Interim Management Statement
January 17 2008 - 2:01AM
UK Regulatory
RNS Number:9544L
Braemar Shipping Services PLC
17 January 2008
For immediate release 17 January 2008
Braemar Shipping Services plc
Interim Management Statement
The Group is now some ten and a half months through its financial year ending 28
February 2008 and since the interim results were announced on 26 October 2007
trading and prospects for the full year have improved.
Shipbroking revenues are comfortably ahead of last year. Transaction volumes
have been strong. Deep-sea tanker chartering freight rates have recovered
rapidly over the last two months after a quiet Summer/Autumn and dry bulk rates
- despite some seasonal volatility - have remained at historically high levels.
Our forward order book remains at record levels.
Our other divisions have performed well and in line with our internal
expectations. The acquisitions of Falconer Bryan in June 2007 and 80% of Fred.
Olsen Freight in December 2007 will add to second half earnings of our Technical
Services and Logistics divisions.
We anticipate the second half result to be similar to the �7.1 million pre tax
profit reported in the first half and that the Group's full year profits will be
significantly ahead of last year's pre-tax profits of �11.0 million.
For further information, contact:
Braemar Shipping Services plc
Alan Marsh Tel +44 (0)20 7535 2650
James Kidwell Tel +44 (0)20 7535 2881
Aquila Financial
Peter Reilly Tel +44 (0)118 979 4100
Elaborate Communications Tel +44 (0)1296 682356
Charles Stanley Securities
Philip Davies Tel +44 (0)20 7149 6457
Notes
Braemar Shipping Services plc (ticker: BMS) is a leading integrated provider of
broking and consultancy services to the shipping industry.
Braemar Shipping Services plc
Specialised shipbroking and consultancy services to international ship owners
and charterers in the sale & purchase, tanker, gas, chemicals, offshore,
container and dry bulk markets.
www.braemarseascope.com
Falconer Bryan Pte Ltd
Offices at the following locations:
Australia, China, India, Indonesia, Malaysia, Singapore, Vietnam, United Kingdom
www.falconer-bryan.com
Cory Brothers Shipping Agency
Port agency, freight forwarding and logistics services within the UK.
www.cory.co.uk
Wavespec
Marine engineering and naval architecture consultants to the shipping and
offshore markets.
www.wavespec.com
DV Howells
Pollution response service primarily in the UK for marine and rail operations
www.dvhowells.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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