14 November 2023
BRAEMAR PLC
("Braemar" or the "Company" or the "Group")
Notice of Results and Dividend Update
Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, today announces the following updates.
Publication of FY23 Results
The Group confirms that it will announce its audited final results for the year ended 28 February 2023 ("FY23") and publish its 2023 Annual Report and Accounts on Thursday,16 November 2023.
Previous FY23 guidance remains unchanged, with revenue of £152.9m (FY22: £101.3m) and underlying operating profit of £20.1m (FY22: £10.1m).
The board intends to reconvene the Annual General Meeting of the Company on Monday, 18 December 2023, where a final dividend for FY23 of 8.0 pence per share (FY22: 7.0 pence) will be proposed. Total dividends in respect of FY23 will be 12.0 pence per share, a 33% increase over the previous year (FY22: 9.0 pence).
The Group will seek a restoration of trading in its ordinary shares on the London Stock Exchange following the publication of the FY23 results and filing of the 2023 Annual Report and Accounts.
Publication of H1 FY24 Results
The Group will announce its results for the six months ended 31 August 2023 on Wednesday, 29 November 2023. In line with previous guidance, underlying operating profit (excluding foreign exchange movements) for H1 FY24 is expected to be not less than £7.0m (H1 FY23: £8.9m, excluding foreign exchange movements).
The board remains confident in the outlook for the second half of the current financial year and, in line with the Group's stated progressive dividend policy, expects to recommend an interim dividend of not less than 4.0 pence per share.
Results Roadshow and Online Presentations
Given the proximity of these results announcements, the Company will host a combined results roadshow, commencing with an online analyst briefing on Wednesday, 29 November 2023 at 10.30am. Please contact the team at Buchanan via braemar@buchanan.uk.com for further details.
The Company is also hosting an online investor presentation with Q&A on Friday, 1 December 2023, commencing at 1pm. To participate, please register with PI World at https://bit.ly/BMS_FY23_webinar.
ENDS
For further information, contact:
| Braemar Plc | | | |
| James Gundy, Group Chief Executive Officer | Tel +44 (0) 20 3142 4100 | ||
| Grant Foley, Group Chief Financial Officer | | ||
| Investec Bank plc | | ||
| Gary Clarence / Harry Hargreaves / Alice King | Tel +44 (0) 20 7597 5970 | ||
| Cavendish Securities PLC
Ben Jeynes / Matt Lewis (Corporate Finance)
Leif Powis / Charlie Combe (Sales & ECM) |
Tel +44 (0) 20 7397 8900 | ||
| Buchanan | | ||
| Charles Ryland / Stephanie Whitmore /Jamie Hooper | Tel +44 (0) 20 7466 5000 | ||
| | | | |
Notes to Editors:
About Braemar Plc
Braemar provides expert investment, chartering, and risk management advice that enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping and energy. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture.
Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS.
For more information, including our investor presentation, visit www.Braemar.com and follow Braemar on LinkedIn.
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