Braemar Shipping positive amid choppy waters
Braemar Shipping saw revenues jump in the first half but warned a significant recovery in shipping markets was unlikely in the immediate future.
Braemar Shipping saw revenues jump in the first half but warned a significant recovery in shipping markets was unlikely in the immediate future.
Revenue from continuing operations up by 29% to £79.4m, with the company reporting all its divisions had made a strong contribution and performed well.
It singled out work undertaken by its environmental response division, Braemar Howells, in handling the cargo from the stricken container ship "MSC Rena" in New Zealand, which was responsible for £15m of revenue in the half.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Profit sneaked up to £5.2m, from 5m the year before, with earnings per share coming in almost unchanged at 17.7p.
Braemar said its Shipbroking, Technical and Logistics divisions were expected to continue broadly at their first half rate of activity for the remainder of the year.
Seaborne trade remained strong and was likely to continue to grow, it added.
However, Chairman Sir Graham Hearne said a significant recovery in shipping markets was "unlikely in the near term".
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What Santander’s takeover of TSB means for customers
Santander is set to buy rival TSB for £2.65 billion. What does it mean for customers, and could we see the TSB brand disappear from the high street?
-
How to find active fund managers that are worth paying for
Active funds are unlikely to beat a cheap tracker on average, but can be valuable in certain markets