Braemar (LSE:BMS), a provider of chartering, investment and risk management advice to the shipping and energy markets, said full-year profit growth remains on track in line with market expectations, as a leadership handover completes at today's AGM.
The company said positive momentum from the second half of the year ended 28 February has continued into the new financial year, with the board confident in delivering profitable growth for the year ending 28 February 2027.
Company-compiled consensus puts full-year revenue at £139.7 million and underlying operating profit, before acquisition-related expenditure, at £14.2 million.
Grant Foley, previously Group CFO and COO, succeeded James Gundy as Group Chief Executive with immediate effect today. Gundy steps down as a director but remains with the business to focus on shipbroking activities. Richard Heading joined as Group CFO on 29 June.
Non-executive director Catriona Valentine also stepped down from the board today, having not sought re-election at the AGM, after serving since 2023.
