Today’s trading update highlights good progress as the group remains on track to meet FY2016 expectations. Strong trading in the tanker market has underpinned Shipbroking. Increased world oil production has stimulated VLCC cargoes. It has also handled some “pleasing” S&P business. Technical division continues to perform in line. The shares are currently on a PER of 12.5x and premium dividend yield of 5.9% compared to the peer group on 15.6x and 3.7%. We reiterate our Buy
14 Jan 2016
Tanker strength underpins FY outlook
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Tanker strength underpins FY outlook
Braemar PLC (BMS:LON) | 274 0 0.0% | Mkt Cap: 90.4m
- Published:
14 Jan 2016 -
Author:
Peter Ashworth -
Pages:
16
Today’s trading update highlights good progress as the group remains on track to meet FY2016 expectations. Strong trading in the tanker market has underpinned Shipbroking. Increased world oil production has stimulated VLCC cargoes. It has also handled some “pleasing” S&P business. Technical division continues to perform in line. The shares are currently on a PER of 12.5x and premium dividend yield of 5.9% compared to the peer group on 15.6x and 3.7%. We reiterate our Buy