Braemar brokers beat heat with top results

Revenue in the 12 months to the end of February was up 26% to £127.1m. Shipbroking services accounted for just under a half its income.
Braemar has seen activity levels pick up since January, notably in the sale and purchase and demolition sectors.
The group’s investment in other non-market related business also proved a success. Revenue generated by its technical division more than doubled to £21.2m this year, compared with £9.5m in 2008.
The group was particularly pleased with the £2.2m profit from its offshore service business, Braemar Falconer, which gained more business on the back of Hurricane Ike last year.
“We had strong double-digit growth and have finished the year with a strong cash pile,” chief financial officer James Kidwell said.