BRAEMAR Announces Results for Year February 2011

Press Release
Monday, May 09, 2011

Braemar Shipping Services plc (“Braemar”, “the Company” or “the Group”), a leading international provider of broking, consultancy, technical and other services to the shipping and energy industries, today announces full yearresults for the year ended 28 February 2011.

FINANCIAL HIGHLIGHTS
•    Revenue £126.1m (2010: £119.0m)
•    Pre-tax profit before amortisation £14.8m (2010: £15.0m)
•    EPS before amortisation 53.84p (2010: 53.22p)
•    Cash at 28 February 2011: £25.6m (28 Feb 2010: £27.9m)
•    Final dividend 17.0p per share (up 5%), full year26.0p (2010: 25.0p) up 4%
•    8thsuccessive year that the Company has increased its dividend

OPERATIONAL HIGHLIGHTS
•    Purchase of the business and certain assets of BMT Marine and Offshore Surveys Limited
•    Shipbroking profits 7% ahead
•    Successful consolidation and relocation of our businesses in Singapore
•    Integration and re-branding of our technical services businesses with an improved outlook for the year ahead
•    Estimated forward order book deliverable in 2011/12 - £23m [US$36m] (2010/11 - £28m [US$42m])

 
Commenting on the results and outlook, Sir Graham Hearne, chairman of Braemar Shipping Services plc, said:
“Our markets in shipping and oil and gas services have had a turbulent year and against this backdrop the performance of the Group has been robust.

Braemar, across all divisions, is a first-class company and among the leaders in its various markets; it is this that underlies my confidence that Braemar will continue to play a leading role in the markets in which it operates.”

Source: BRAEMAR


Finance

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

India Shipping Ministry Enlarges Scope of Sagarmala

India's Ministry of Shipping has formulated a revised Central Sector Scheme to provide financial support to Major and Non-Major Ports as well as State Governments

Industry Wants Hanjin Shipping to Merge with Hyundai Merchant Marine

The Korea Shipowners’ Association (KSA) has officially suggested Hanjin Shipping merge with Hyundai Merchant Marine (HMM) to prevent  court receivership and liquidation, reports Business Korea.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0858 sec (12 req/sec)