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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Braemar | LSE:BRG | London | Ordinary Share | GB00B012XS39 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBRG RNS Number : 9835P Braemar Group PLC 02 April 2009 2nd April 2009 Braemar Group plc ("Braemar" or "the Company") TRADING UPDATE Braemar Group plc ("Braemar" or the "Group") today provides the following end of year trading update. Preliminary results for the year ended 31 March 2009 will be announced in early June 2009. The Group has made the following key achievements in the second half of the year ended 31 March 2009: Braemar Securities We have further diversified our range of funds to include Agricultural Land, Student Accommodation and Ground Rents, the latter being launched early in the new financial year. All three funds take the form of Guernsey registered Open Ended Investment Companies. This move to list funds on the Channel Islands Stock Exchange has increased our funds under management markedly during the last year. Income is derived from these funds through a blend of initial and recurring annual management fees. These structured products, which we have launched as public funds, are proving attractive to IFAs and other advisors who promote on our behalf. Momentum has gained throughout the last 12 months, especially since the launch of our Student Accommodation OEIC, which has reported an increase in net assets per share of 23% since inception in November 2008. Braemar Estates Our property management division, now responsible for the management of c. GBP250m of assets, representing some 2,500 apartments, has proved resilient during the wider property downturn, particularly as our activities are limited to the management or refurbishment of assets we own, assets in funds we manage and third party owned freeholds. Growth in this business during the year was buoyed towards the end of the year with the acquisition of Manchester Ground Rent Company Limited, details of which were announced on 3 March 2009, which the division will now manage. Financial Outcome Having already reported a loss in the first half, the Directors are pleased that the above achievements are providing a more stable footing for the Group. This will be reflected in revenue growth in the year just ended, with a more balanced income profile throughout the year, and in a build up of recurring income. As fund raising continues, the Directors expect trading will have strengthened further by the time of our preliminary results announcement, which is expected to be in early June. For further information please contact: Martin Robinson, Chairman, Braemar Group plc Marc Duschenes, Chief Executive, Braemar Group plc Julie Serrage, Investor Relations, Braemar Group plc Tel: 0161 929 4969 Alex Clarkson/Nick Cowles, Zeus Capital Tel: 0161 831 1512 Stuart Forshaw, WH Ireland Tel: 0161 832 2174 Notes to Editor: Established in 2001 and quoted on AIM in December 2005, Braemar Group plc, through its two core divisions Braemar Securities Limited and Braemar Estates (Residential) Limited, creates and manages a range of real estate investment funds. Braemar Securities Braemar Securities specialises in fund raising for public and private companies. It sponsors and operates a range of property investment funds for the Group and for third parties. Braemar designs, promotes and manages innovative structured financial products and promotes its funds to high net worth individuals, via IFAs and other regulated entities. Braemar Estates Braemar Estates is responsible for the property management for Group funds and also manages a diverse leasehold portfolio of approximately 2,500 residential properties with a combined worth of over GBP250 million in the UK on behalf of freeholders and leaseholders. In addition, it provides a full management service to ten residential property funds operated by Braemar Securities. Website: www.braemar-group.co.uk This information is provided by RNS The company news service from the London Stock Exchange END TSTIIFLDSSIFIIA
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