London · Delayed Price · Currency is GBP · Price in GBX Braemar Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined 4% year-over-year to GBP 135.6 million, but diversification and strong risk advisory growth offset weaker chartering. Net debt reduced, dividend maintained, and robust trading momentum continues into the new year.
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H1 revenue and profit declined due to weak chartering, but diversification and a strong forward order book support optimism for H2. Risk advisory revenues grew, and recent market recovery, along with unchanged FY2026 guidance, underpins a positive outlook.
Fiscal Year 2025
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Revenue declined 7% to £141.9m due to weaker tanker and dry cargo rates, but margins held at 12% and statutory profit rose 23%. A strong forward order book and new capital allocation policy support medium-term growth, with FY2026 profit guided at £13-14m.
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Revenue and profit grew modestly year-over-year, driven by strong securities and investment advisory performance, while chartering lagged. The forward order book is robust, supporting a positive outlook, and the interim dividend was raised. Diversification and disciplined M&A underpin resilience.