Braemar Share Discussion Threads

[topvest] 30/8/2022 08:24

Well today's update was definitely worth waiting for. A refocused business with the core business absolutely flying!

An interesting read across for other businesses benefiting from a super strong US$ in the UK market. Maybe this effect hasn't been reflected in quite a few EPS forecasts on some smaller companies.

[cwa1] 30/8/2022 07:50

Edison research:-

[edmundshaw] 30/8/2022 07:42

I'd add on this fantastic news, but I already have more than enough having added after previous positive updates. Shipyards' order books are full into 2025, so tight shipping and newbuilding looks to continue for a long time. We are already looking at another massive 100%+ uplift in profits for the current year (ending in only 6 months' time!!). Rerating should be sustained and significant!

Stonking is a much overused word, so gangbusters will also do fine...

[mfhmfh] 30/8/2022 07:37

should be 400p. IMHO.

[cwa1] 30/8/2022 06:24

Prelims...



...as well as a Trading update on the same day...



Wow...the only word for those is...gangbusters :-)

[cwa1] 19/8/2022 14:08

Looks like the AGM resolutions threw up a couple of substantial votes against, which is noted in the narrative.

Also a change of name to Braemar PLC has been passed

[1knocker] 17/8/2022 15:03

Braemar has seemed cheap for years. The financial press has talked it up too, but nothing seems to move the share price up much.The dividends are not great either. A rise to 300 would be a welcome opportunity to sell the last my holding and have done with it. Here's hoping.

[tole] 17/8/2022 12:41

https://masterinvestor.co.uk/equities/small-cap-catch-up-featuring-rps-code-carr-and-others/And on Friday 19 August my favourite shipbroking group Braemar Shipping Services (LON:BMS) is due to hold its AGM for its year to end March 2022, however we have not yet seen the published accounts – an unusual situation.The restructuring of the group by its relatively new management is proceeding at quite a pace, hence the accounts hassles on implanting new acquisitions into the fold.I still see the shares as significantly undervalued at just 260p.

[cwa1] 17/8/2022 10:19

Decent pre-update update 🙂

[edmundshaw] 09/8/2022 10:34

All very well, but I'd like to see the results... please...

[spypat] 08/8/2022 17:13

Braemar Shipping Services – supply chain hassles proving beneficial

hxxps://masterinvestor.co.uk/equities/braemar-shipping-services-supply-chain-hassles-proving-beneficial/?mc_cid=cf495a1039

[topvest] 31/7/2022 19:34

It's all around the audit work on the discontinued operations from what I can see. That's always complex as it requires the already stretched auditor to complete a separate audit of the disposed entity at the disposal date, which may have been planned late in the day or not at all. Sometimes that gets to be problematic and it sounds like they weren't very well prepared on all fronts. The dividend point is a common PLC error and is not in itself a big concern. Combined with the delay though, it implies that either the Finance team and/or the auditor are not on the top of their game!

[shalder] 27/7/2022 14:57

I imply no "skulduggery". But corporate entities operate within a regulatory framework and (as acknowledged by the company) someone may have failed to ensure that actions taken are compliant.

[grahamburn] 27/7/2022 14:23

IMO the last three posts are somewhat harsh - and imply possible corporate skulduggery without foundation.

The information regarding the delay in the accounts was covered openly and honestly in the RNS issued on 1 July. Indeed, it was the main subject in that RNS.

[shalder] 27/7/2022 12:12

Totally agree your comments, especially re the manner of putting this out buried in an AGM announcement.

[florence141414] 27/7/2022 11:59

It’s certainly possible. I cut half my position this morning. If it was just that they paid a dividend without filing accounts, then I wouldn’t be so concerned. It’s the combination of that with the previous announcement of accounts on a specific date, subsequent cancellation of that announcement only a few days later, no new date given and hinting today that they are unlikely to be out by the AGM on the 19th. I’m not sure but I believe that would only leave them 12 days until they would have to ask for an official reporting extension. I also don’t like that this was hidden in an RNS titled 'Notice of Annual General Meeting' makes it seem like they were trying to slip the bad news by us.

It’s a shame because operationally they seem to be going gangbusters. I expect that when we finally do get results for FY22 we’ll see profits around the 8-10m mark with guidance that FY23 is on course to be even better. I would certainly buy back in if the market gets jittery when it realises just how late these accounts are likely to be.

[shalder] 27/7/2022 11:01

Is there a bit of a corporate governance issue going on here? See AGM announcement.

[cwa1] 21/7/2022 17:43

Kleinwort adding:-

[cwa1] 13/7/2022 06:29

Clarkson update released this morning...

Trading Update

Clarkson PLC, the world's leading provider of integrated shipping services, today announces that trading in the first half of the year has been strong and, as a result, the Company is expecting to report unaudited underlying profit before tax for the six months to 30 June 2022 of not less than £42million. Performance has been strong across all divisions, with the Broking division, which has a market-leading position in nearly all the key shipping sectors, performing particularly well.

While mindful of macroeconomic conditions, the Board nevertheless remains confident in the outlook for the business and expects results for the year ending 31 December 2022 to be materially ahead of its previous expectations.

The Company will publish its Interim results on Monday 8 August 2022.

[2vdm] 07/7/2022 06:40

Good luck. I'm holding, albeit at a loss. Bought in too early, but feel happy for the medium term as the world starts to recover.

[cwa1] 06/7/2022 08:34

Must be completely bonkers-but I've decided to have a few of these this morning. Fingers crossed...

[edmundshaw] 06/7/2022 07:00

The market says... nothing. It's a market. Famously personified as Mr. Market by Benjamin Graham to describe the irrational and contradictory aspects "he" displays on frequent occasions.

[1knocker] 04/7/2022 09:50

The comentatators say one thing, the market says something else. How does an investment in Braemar compare with an investment in just about any other shipping stock? I have been making out like a bandit on Star Bulk Carriers which I bought late last year.. Huge quarterly dividend and volatile enough to trade in and out to get the capita invested down without missing a divi.

[edmundshaw] 04/7/2022 09:30

Deferring of results again is not great news, and I can understand some people might panic.

But the trading update alongside the deferral looks very positive. Braemar is slowly changing along with the board. I am hopeful we will have good results. The outlook plus four months of good H1 performance for the current year is not to be sniffed at. I added on the dip.

[1knocker] 04/7/2022 09:15

What a complete dog Braemar is. I topped up at 234 last October and sold that tranche at 279 last month. Why oh why did I not have the sense to get rid of my entire holding?