Braemar (LON:BMS) reported full-year revenue of £135.6 million for FY2026, down 4% from the prior year, as weaker chartering rates weighed on performance, particularly in the first half. The shipbroking and investment advisory group said underlying operating profit fell 21% to £13.2 million, while underlying earnings per share declined 23% to 24.23 pence.
Group CEO James Gundy, who is stepping down from the role and will be succeeded by CFO Grant Foley, said the company has been “totally transformed” over the past five years. He pointed to revenue growth from £83.7 million in FY2021 to £135.6 million, reduced debt, a broader office footprint and a more diversified revenue mix.
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