Braemar Announces Unaudited Half-Year Results

press release
Tuesday, October 25, 2011

Unaudited interim results for the six months ended 31 August 2011.


Braemar Shipping Services plc (“Braemar” or the “Group”), an international provider of shipping and marine services, today announces unaudited half-year results for the six months ended 31 August 2011.

 

FINANCIAL HIGHLIGHTS

• Revenue from continuing operations £61.5m (interim 2010/11: £67.6m)
• Pre-tax profit £5.0m (interim 2010/11: £7.2m)
• Pre-tax profit before amortisation and non-recurring income £4.8m (interim 2010/11: £8.0m)
• Basic EPS 17.60p (interim 2010/11: 25.99p)
• EPS before amortisation and non-recurring income 16.76p (interim 2010/2011: 28.79p)
• Interim dividend of 9.0p per share unchanged (interim 2010/11: 9.0p)
• Cash of £9.3m (31 August 2010: £14.8m) and no debt

 

Sir Graham Hearne, Chairman of Braemar, said: “Shipping markets are experiencing a period of progressive weakness which has affected the performance of the group in the first half. In the light of this, we are taking measures to reduce costs, the full effect of which will not be felt until next year. These measures, combined with the capability of our non-broking businesses to make a greater overall contribution, give us confidence in the Group’s resilience and we expect an improvement in the second half performance relative to the first half.”

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Furuno Establishes China Subsidiary

FURUNO ELECTRIC CO., LTD. announced that its new subsidiary in Hong Kong has been established and has commenced business operation on February 1, 2016.   The new subsidiary, FURUNO CHINA CO.

Edison Chouest Opening Mississippi Shipyard

Edison Chouest Offshore locating shipbuilding operations, TopShip, LLC, in Gulfport, Miss.   Gov. Phil Bryant and officials from Edison Chouest Offshore, an offshore

R&M Group Merges with Sea Level Marine

R&M Ship Technologies USA, Inc. has merged Sea Level Marine, LLC. in efforts to increase the range of services offered to the company’s global client base. By aligning resources,

Finance

Australia Submarines: Japan Vs France

While Japan is confident it has proven itself the best contender to build Australia's new submarines, the French have moved to undermine Japan’s bid to build the navy’s new submarines.

Limit Exposure with the Uniform Commercial Code

Demanding assurance pursuant to the UCC may save you from sinking on someone else’s ship. Vessel operations require a large network of companies that come together

Baltic Index Touches New Record Low

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying industrial commodities, registered a new all-time low on Monday on muted vessel demand.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators
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: 0.0969 sec (10 req/sec)