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BMS Braemar Plc

0.00 (0.0%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Braemar Plc LSE:BMS London Ordinary Share GB0000600931 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 275.00 40,243 16:29:55
Bid Price Offer Price High Price Low Price Open Price
275.00 278.00 279.00 273.00 279.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Water Transport Svcs, Nec 152.91M 4.6M 0.1396 19.70 90.54M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:41:52 O 5,000 277.66 GBX

Braemar (BMS) Latest News

Braemar (BMS) Discussions and Chat

Braemar Forums and Chat

Date Time Title Posts
08/12/202308:55BMS with Charts & News3,040
14/3/201609:16Braemar Shipping Services3
28/5/201516:16BRAEMAR SEASCOPE117
17/1/201408:22*** Braemar Seascope ***13

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Braemar (BMS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-08 16:41:53277.665,00013,883.00O
2023-12-08 16:35:21275.002,7337,515.75UT
2023-12-08 16:29:55275.00143393.25AT
2023-12-08 16:29:11277.0085235.45AT
2023-12-08 15:29:49279.74176492.34O

Braemar (BMS) Top Chat Posts

Top Posts
Posted at 08/12/2023 08:20 by Braemar Daily Update
Braemar Plc is listed in the Water Transport Svcs, Nec sector of the London Stock Exchange with ticker BMS. The last closing price for Braemar was 275p.
Braemar currently has 32,925,000 shares in issue. The market capitalisation of Braemar is £90,543,750.
Braemar has a price to earnings ratio (PE ratio) of 19.70.
This morning BMS shares opened at 279p
Posted at 01/12/2023 14:44 by cwa1
You have to laugh...or cry...

Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets, announces the following clarification regarding the payment date of the FY24 interim dividend.

The interim dividend of 4.0 pence per ordinary share will be paid on 2 April 2024 for all shares on the register on 23 February 2024. The last date for Dividend Reinvestment Plan ("DRIP") elections will be 8 March 2024. The DRIP is provided by Equiniti Financial Services Limited. The DRIP enables the Company's shareholders to elect to have their cash dividend payments used to purchase the Company's shares. More information can be found at
Posted at 21/11/2023 21:35 by pireric
For what it's worth, the last bit of research I've done today:

Braemar traded on an average forward (rolling 12 months) basic EPS P/E of 11 to 14x between 2015-2020. In the years still impacted by covid and business model restructuring and deleverage it was on
- 10x in 2021
- 11x in 2022

So at 7.6x we are well below historical levels and amongst the cheapest cohort in the market (especially for non-consumer facing businesses), and the balance sheet and strategy is in much better shape to drive growth (something that was pretty lacking in the past). The company was arguably running a weak balance sheet across much of 2018-2021, the expansion strategy was pretty murky, and both of those things were a big negative. If they execute well, maybe this can be back into that 11-14x range within a couple of years maybe doing sustainable EPS of say 35-40p.

Small steps either way, but still think this should have a £3 handle on the share price again.

Posted at 21/11/2023 08:38 by rimau1
Indeed Pireric BMS is very cheap on every metric (price/book, xearnings, cash adjusted etc). For balance my bear case points are (1) with my CEO hat on I would kitchen sink y/e Mar'24 and focus on hitting FY25 expectations - which i have personally priced in (2) external markets / shipping downturn. Thats all i have.Dan the epic - i just re-read your recent posts/views on BMS, hope you were not on the wrong side of the trade.
Posted at 13/11/2023 15:29 by redwing1
I don't agree with you Clarkey1880. Yes of course the macro picture is important to a cyclical stock such as Braemar, but the share price had moved so far away from a sensible rating that it is only going to respond to what caused the share suspension in the short term.

Take a look at the Cavendish numbers (which already reflect some shipping market slowdown for 2024) and you see a forward p/e of 6.7x with a yield of 4.5% and net cash of £13m. That looks low enough to reflect any shipping downturn.

So all I am saying is that any fall on a lifting of the suspension will be because the market doesn't like what it hears about the prior year accounting issues and any resulting impact on current profitability. If by some miracle management has plausible explanations, then I would predict a healthy bounce in the share price.
Posted at 10/11/2023 18:45 by clarkey1880
Friends - i was banging on about the macro effect to braemar thats coming to negatively pressure the share price.

One other thing to add to that macro woe is EU ETS - this means dramatically inflated shipping costs, most likely to cause disruption and drop in transaction liquidity.

The horizon for BMS is stormy… if this wasnt suspended have been priced in - yes.

Will this be bearish if / when it re lists - yes.

I was reminded of a similar story to bms - stobart…
Posted at 05/11/2023 17:02 by clarkey1880
Catabrit - i don’t understand your savills or cbre comparison.

Maersk own ships, so your savills analogy doesn’t work. Maersk is making layoffs because the global economy is faltering.

Global slowdown effects all lines of bms’ shipping business, container, dry, wet, dirty, clean, chem, energy.

Did you see recently the demand for naphtha and other feedstocks in EU has dropped because of inflationary pressure and global slowdown? Ie less chem being shipped…

If global trade demand is off due to inflation, fixtures will drop across all shipping sectors, meaning less deals for bms to win, shipping rates drop, so deals completed drop in value. S&p will get hammered because of interest rates and credit on debt. Etc etc.

Add in a shift in the strength of USD now vs gbp (last year bms outperformed based purely on currency difference at the end of the year).

Tell me i’m wrong, g’wan
Posted at 01/10/2023 13:56 by hpcg
Also arguing about what might happen to the share price when it is re-listed later this month is pointless. I won't make a decision until I've seen the RNS though I can boil it down to these:

1) buy a dip
2) sell a spike
3) sell at any price
4) buy at any price
5) hold
6) buy around prior closing price on a muted opening
7) sell around prior closing price on a muted opening

Of these I suspect 3 and 4 are unlikely, based on the trading statement and what we can guess about the root cause. Even if it were bribery the company would self report and it would be unlikely there would be any consequential punishment. Most likely is 5, the vast majority of my position was built at the price immediately pre-suspension, I don't especially see the need to enlarge it at this exact time. Everyone else will have their own check sheet and price will initially be driven by those especially keen on selling or buying.
Posted at 15/9/2023 13:39 by jeff h
On 3rd July the group announced that Braemar’s shares were subject to a Temporary Suspension of Listing and Trading.

That was more than two months ago and not a whisper from the company nor from any of its advisers, so I considered it time to ask what the situation was by contacting the group’s Company Secretary.

The Company Secretary, Braemar

On behalf of several subscribers to The Master Investor website I have been asked to find out exactly what is going on now at Braemar and why have its shares been suspended for so long?

Are they due for an early return to Dealings?

Reply within hours from The Company Secretary

Dear Mark

Thank you for your email.

As previously announced on 26 June 2023, the board and the Group’s auditors have been assessing certain liability balances, including pertaining to a particular transaction, which originated in 2013 and involves payments being made through to 2017.

The investigation is ongoing and good progress is being achieved, a further announcement will be made on completion of the investigation.

We expect to seek re-listing of the shares once the accounts are published.

My reaction – I was impressed by the quick response, so many companies are rarely this prompt.

Alas though we shall just have to hang fire for a while yet, which is a shame.

I have seen a piece reported in late August, not on the main company news channel, suggesting that Braemar’s suspension would be extended for another 20 days.

However, the intervening period of time has seen the market as a whole under pressure, so holders should, perhaps, be grateful for the shares not being subjected to a wave of ill-founded rumours.

Even so it will be interesting to see just how well framed the situation will be revealed to the Braemar shareholders.

I continue to be a massive fan of the group and its Management style and still consider that its potential is considerably in advance of even its suspended share price of 233p.

Is news getting closer, my gut feeling is that we will not have to wait too much longer.
Posted at 02/4/2023 10:48 by rivaldo
No-one expects anything else from the Mail on Sunday :o))

But I'm always glad to see a smaller company in my portfolio highlighted in the national press and getting some attention.

And the conclusion that the BMS share price has serious upside from here to reach fair value is spot on.
Posted at 21/1/2022 11:59 by whittler100
We all have our reason to buy and sell shares in a company; after all, that’s what makes a market.

My thoughts on buying into BMS in early December 2021 are shown below; just sharing my reasoning and not a recommendation in any way:

When I first bought Clarkson CKN (I no longer hold), they and Braemar BMS were around the 200p mark: Clarkson had sound management that developed the business (now share price around £37). Clarkson has been a very well managed business yet Braemar has lurched from poor acquisition and lack of direction from a rather, now departed CEO.

Braemar has a refreshed team now leading the company with the previous head of the shipbroking service, James Gundy, taking over as CEO in January 2021, a new chairman in 2021, and a fairly fresh CFO as of 2019. Poor directors don’t become good directors so a refresh for a turnaround is IMO very important. The new CEO James Gundy does not strike me as a particularly charismatic type but seems to have a clear focus on the direction of the business.

The Bull Case:
The old management has been jettisoned and a fresh CEO with over 30 years experience in shipbroking, including time at Clarkson’s, is now in charge supported by what appears to be a competent CFO. We in effect have a new broom and let’s hope it’s as successful as Triggers Broom from Fools & Horses.

The non-core businesses which were often loss-making and acted as a handbrake on the company have been jettisoned & funds used to strengthen the balance sheet. The focus of the business under the strategy set out by the new CEO is on the core shipbroking and smaller corporate finance operations.

I do dislike nil-cost LTIPs but a careful analysis of the terms of the LTIP shows that the management will collect zero rewards unless there is substantial share price movement over the next 3 years measured from June 2021. In order for the full LTIP to be awarded, the share price will have to essentially double by 2024. I am comfortable with this.

Should the new strategy succeed then the valuation of BMS will hopefully get a decent percentage gap closer to that of the successful Clarkson which trades on a PE almost three times higher than that of BMS. A clear part of the strategy is the intention to double size of the business within four years via a mixture of both bolt-on acquisitions and organic growth

Margin: the current EBIT Margin is 8.6% and forecast to rise to 10.2% by 2024 yet if they are successful then maybe they will get a touch closer to Clarkson’s EBIT margin of 16%

Current trading in the subsector, essentially BMS & CKN, are buoyant. In the last 5 months BMS has issued two “Ahead” TUs and the most recent TU says in-line with recently upgraded expectations. In early December CKN issued an “Ahead” TU.

Skin in the game: The CEO Grundy owns just over 2% of the business & has recently bought a further 23,000 shares on 3/12/21 @ 210p & the CFO, Nick Stone, bought 10,000 @ 214p. Add to that the number of potential shares awards in the LTIP. I think they have every reason to drive the business and manage it like owners.

Any Share dilution? No, the share count has been fairly steady over the past 7 years

Dividends: currently set at a handy but not outstanding 2.5% & all being well, it should increase steadily but not IMO be the sole reason to own the stock.

The Bear Case:
Whilst the new management talks a good fight, they could prove to be as incompetent as the previous management.

What if for whatever reason there is a serious downturn in shipping demand and prices and thus commission fall.

The Free Float may not be attractive to some investors @ 53% & the spread is wider than that of CKN.

All just my thoughts and reasoning as to why I see BMS as a decent long term hold whilst we give the new management time to deliver hopefully following somewhat on the path of the very successful CKN
Braemar share price data is direct from the London Stock Exchange

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