Braemar Plc. (BMS.L) reported that its profit attributable to equity shareholders of the company for the year ended 28 February 2025 increased to 6.10 million pounds or 16.58 pence per share from 4.62 million pounds or 12.80 pence per share.
Profit before tax was 9.22 million pounds up from 7.52 million pounds last year, due to lower specific non-recurring costs, in particular the costs of the independent internal investigation in fiscal year 2024.
Underlying profit before tax was 13.4 million pounds down 1.2 million pounds from the prior year, due to the weaker revenue performance and subsequently lower bonus costs.
Revenue for the year declined 7% to 141.9 million pounds from last year's 152.8 million pounds, hurt by weaker Chartering revenue being partially offset by a stronger Investment Advisory performance with Risk Advisory broadly unchanged.
The board will recommend a final dividend for the year ended 28 February 2025 of 2.5 pence for approval by shareholders at the Company's Annual General Meeting to be held on 2 July 2025.
This final dividend, together with the interim dividend of 4.5 pence already paid on 13 January 2025, represents a total dividend for the year of 7 pence. The final dividend will be paid on 8 September 2025 to shareholders who are on the register at the close of business on 1 August 2025, with a corresponding ex-dividend date of 31 July2025. The last date for dividend Reinvestment Plan elections will be 15 August 2025.
Underlying operating profit, before acquisition-related items, for fiscal year 2026 is now expected to be in the range of 13 million pounds to 14 million pounds.
The company said it remains focused on building a business that can deliver shareholder value throughout the shipping cycle and our strategic framework provides clear direction and a roadmap to get the Group to 200 million pounds of revenue by fiscal year 2030.
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