FY2017 results will be materially below FY2016. Within Shipbroking there has been a marked slowdown in tankers and dry bulk remains weak. Technical has been further impacted by the slowdown in oil & gas activity. A group-wide cost reduction/restructuring has been undertaken to ensure an appropriate structure. Following this update, we have reduced our FY2017E PBT estimate by 36% to £8.7m. We believe the dividend will be maintained, given the strength of the balance sheet and the sub
30 Aug 2016
FY2017E results will be below expectations.
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FY2017E results will be below expectations.
Braemar PLC (BMS:LON) | 274 8.2 1.1% | Mkt Cap: 90.4m
- Published:
30 Aug 2016 -
Author:
Peter Ashworth -
Pages:
5
FY2017 results will be materially below FY2016. Within Shipbroking there has been a marked slowdown in tankers and dry bulk remains weak. Technical has been further impacted by the slowdown in oil & gas activity. A group-wide cost reduction/restructuring has been undertaken to ensure an appropriate structure. Following this update, we have reduced our FY2017E PBT estimate by 36% to £8.7m. We believe the dividend will be maintained, given the strength of the balance sheet and the sub