StockMarketWire.com - Braemar Shipping Services said it expected to report full-year earnings in line with expectations following a significant second-half boost.

Underlying operating profit was expected within the range of £7.8m-to-£8.2m, the company said. The group's technical division returned to profitability during the second half, although the market continued to be challenging, Braemar said.

The newly-acquired financial division, Braemar-NAVES, had delivered a 'strong' financial performance and was proving to be a good strategic fit, it added.

Net debt at 28 February was around £2m.

'Braemar believes that the outlook for the year ending 28 February 2019 is favourable and the group will benefit from the full year impact of the recent acquisitions of Braemar-NAVES and Braemar Atlantic as well as the continuing recovery of the technical division,' the company said.


At 1:17pm: [LON:BMS] Braemar Shipping Services PLC share price was +14p at 288.5p



Story provided by StockMarketWire.com