Update on trading and publication of FY results

RNS Number : 9251Q

Braemar Shipping Services PLC

01 July 2022

 

1 July 2022

BRAEMAR SHIPPING SERVICES PLC

("Braemar", the "Company" or the "Group")

Further update on current trading and publication of full year results for the year ended 28 February 2022

Braemar Shipping Services Plc (LSE: BMS), a leading international Shipbroker and provider of expert advice in shipping investment, chartering and risk management services, confirms that trading in the new financial year continues to be very strong and ahead of management expectations, as the Group benefits from both its increased scale and the current favourable market conditions.

The board's strategy, introduced by the new management team, has been to streamline the business to focus on its Shipbroking core. This refocus has resulted in a number of corporate transactions and as previously announced on 20 May2022, the complexities of these transactions has led to the completion of the year end audit taking longer than anticipated. As a result, Braemar is deferring the announcement of its results for the year ended 28 February 2022 in order to allow further time for the Group's auditors to complete their work. The board will update the market with a revised announcement date, once this process is complete.

For further information, contact:

Braemar Shipping Services
James Gundy, Group Chief Executive Officer		Tel [phone]
Nick Stone, Chief Financial Officer
Investec Bank plc
Gary Clarence / Harry Hargreaves / Alice King		Tel [phone]
Cenkos Securities plc Ben Jeynes / Max Gould (Corporate Finance) Alex Pollen / Leif Powis (Sales)		Tel [phone]
Buchanan
Charles Ryland / Stephanie Whitmore / Jack Devoy		Tel [phone]

Notes to Editors:

About Braemar Shipping Services Plc

Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping.

Braemar's experienced brokers work in tandem with specialist professionals to form teams tailored to its customers' needs, and provides 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, please visit www.braemar.com and follow Braemar on LinkedIn .

 

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