Braemar Share Discussion Threads

[onehandeconomist] 18/5/2010 11:18

Curt - I agree it should be but for the fact that it isn't the largest of companies - about £100m market cap so below the radar for the vast majority of institutional buyers. I guess what we need is a big trade buyer to come along? Then again, wwith the quality of their balance sheet, their understanding of good management and rewarding investors, I think I'd back them to do some well chosen acquisitions.

[curt3] 17/5/2010 14:39

solid predictable performance with increased dividend - this one should be an ideal share for institutional buying. I wonder if they are getting any "windfall" revenue from the BP oil clean-up ? DYOR.

[sailing john] 13/5/2010 14:13

Getting like the Nick and Dave show one here :-)
BTW - BDI up another 26 to 3914 today
SJ

[go with the flow] 13/5/2010 08:48

LOL
Flow ;o)

[fat_boy] 13/5/2010 08:31

In other words it could go up or down a bit.

LOL.

500p came later than i expected but we got there in the end :-)

[go with the flow] 12/5/2010 17:39

It has hit 500p sooner than I expected.
It may well fall back again but the trend is definately upwards.
Results beating expectations is certainly very positive too which should underpin current trend.
Flow

[broadwood] 12/5/2010 15:47

I was surprised they hardly moved on Results day but obviously,now folks have had time to get their heads around them ....

[sailing john] 12/5/2010 14:58

Think the bid just hit 500p for a short while
And BDI up another 66 to 3888 today

[sailing john] 11/5/2010 15:51

And the BDI is still on a roll!
Up 115 to 3822 today

[chector177] 11/5/2010 15:15

Steady!!!! :-) grigor you must be having a laugh although todays dramatic bounce back to where we were is most welcome

[grigor] 11/5/2010 14:21

Steady as she goes Captain

[idioterna] 11/5/2010 10:54

yep - the entire concept of stockmarkets is screwed up. The sooner the dividend yielders like BMS and BP delist the better. The markets can then be marketed by casinos.. as they should be.

[martylangan] 11/5/2010 09:21

Braemar Shipping's long-term attraction is that the link between world GDP growth and the volume of goods moved by sea is still intact. The international nature of ship broking - the company has operations in South America, Asia and Australia - should also provide insulation from a weak UK economy. At 426p, or eight times forward earnings and providing a solid 5.9% dividend yield, the shares are too low. Buy says the Times.

[phillis] 11/5/2010 08:38

from Tempus

Braemar Shipping Services is on a more even keel. The small-cap ship broker was buoyed by two years of boom in 2007 and most of 2008, only to face a severe downturn in 2009, when international trade sharply slowed and a lack of finance meant few vessels changed hands.

But yesterday's full-year results revealed a welcome degree of stability. Braemar said that freight rates and ship values - which underpin the ship-broking activities that generate three quarters of group profits - continue to recover from last year's lows. The strength of the US dollar - the currency in which ship deals are struck - relative to sterling is also helpful.

For now, revenues and pre-tax profits for the 12 months to February 28 fell less than expected - down 6 per cent and 14 per cent respectively - and would have been stronger still were it not for start-up investments in non-broking businesses: marine surveying, cargo loss adjusting and consultancy to operators of liquefied natural gas terminals. Year-end net cash of £27.9 million came in ahead of forecasts, as did the final dividend, which was raised by 5 per cent.

Braemar's long-term attraction is that the link between world GDP growth and the volume of goods moved by sea is still intact. The international nature of ship broking - the company has operations in South America, Asia and Australia - should also provide insulation from a weak UK economy. The scope for new shipping capacity to exert a depressive effect on freight rates is a concern. However, at 426p, or eight times forward earnings - a discount to rival Clarkson - and providing a solid 5.9 per cent dividend yield, the shares are too low. Buy.

[go with the flow] 10/5/2010 19:36

Idioterna
Great final comment, made me laugh ;o)
Flow

[idioterna] 10/5/2010 15:40

Yep, gotta agree with that. Good results, positive outlook, nice dividend hike. Headline was the only dampner. I guess the real issue is how small the trading volume is and how much the financials are rocketing. I mean why chase a nice save 6% annual dividend yield when you can make 20% in a day betting on a dodgy bank?

[sailing john] 10/5/2010 15:21

Disappointed, but not surprised at the subdued market reaction to results. Headlines (for those who don't follow) look negative but for regular BMSers results were ahead of expectations and outlook positive.

BTW - BDI up another 99 to 3707 today

[sailing john] 10/5/2010 08:44

Excellent solid results and it's good to see an increasing cash pile
I think we will see some more growth this year (acquisition/organic)
SJ

[idioterna] 10/5/2010 07:58

Dividend up 5%. Nothing to whinge about there.

[chrisb1103] 10/5/2010 07:54

Year Ended 28/02/10 Final Results RNS 10/05/10

Pre-tax profit before amortisation £15.0m (2009: £17.3m)
Pre-tax profit £13.5m (2009: £16.2m)
Basic EPS from continuing operations 47.93p (2009: 56.70p)
Cash generated from operating activities £15.3m (2009: £21.0m)
The Group remains financially strong, with no debt and cash balances of £27.9m at 28 February 2010 (28 Feb 2009: £25.2m).
Final dividend 16.25p per share (up 5%), full year 25.00p (2009: 24.00p) up 4%

Demand in shipping markets is recovering with values and rates stabilising
Group services to the energy sector growing
Positive outlook for the year ahead
Estimated forward order book deliverable in 2010/11 - £28m [US$42m] (2009/10 - £29m [US$42m])
Non-broking businesses contributed 25% of group operating profits

Commenting on the results and outlook, Sir Graham Hearne, Chairman of Braemar Shipping Services PLC, said:

"These results are good, and ahead of our expectations at the beginning of the year. After the exceptional years of boom conditions in shipping through 2007 and most of 2008, the 2009/10 profits are the third highest in the Group's history.

Demand in most shipping sectors is recovering steadily in line with the improving economic outlook. We go into the new financial year with a healthy forward book and we are positive on the outlook for the year ahead."

[sailing john] 07/5/2010 21:39

BDI +140 to 3608

[sailing john] 07/5/2010 10:03

Flow
Me to - I'm a long term holder for the solid yield. I think we will see a strong bounce today and next week especially as the £ comes under pressure.
John

[go with the flow] 06/5/2010 18:56

SJ
I tend to ignore the short term erratic nature of the share price & concentrate on the underlying trend.
Flow

[sailing john] 06/5/2010 15:38

We appear to be caught up in the Greek tragedy this week or is it the weakness in the miners?
But BDI moving up +89 to 3468 today.
And results due early May - next week? should confirm what most holders already know. Solid earnings - cash growth and fantastic yield plus a positive outlook.