Braemar FY rises 10%, bright outlook

12th May 2009 08:02

Shipping services firm Braemar Shipping pushed through a 10% rise in annual pre-tax profit and said overall prospects for the year are positive. "Shipping has enjoyed an unprecedented boom over the past three years," commented chairman Sir Graham Hearne. "Our activity is higher than we might have expected with transaction volumes remaining steady and the strength of the US dollar has a positive effect on our results," he added. Pre-tax profit rose to £16.2m for the year ended 28 February 2009 from £14.7m in 2008. Pre-tax profit before amortization was up 14% at £17.3m. A final dividend of 15.5p a share has been declared, up 3% from last time.