By Joe Hoppe
Braemar Shipping Services PLC said Wednesday that its pretax profit and revenue rose after refocusing on its core shipbroking and corporate finance business, and said it was on track to meet upgraded expectations.
The London-listed, maritime-services company said that for the six months ended Aug. 31, pretax profit was 7.2 million pounds ($9.8 million) compared with a restated profit of GBP3.2 million a year earlier.
Revenue rose to GBP47.4 million from a restated GBP42.8 million.
The board declared an interim dividend of 2.0 pence a share. It didn't pay a dividend last year due to uncertainties surrounding the coronavirus pandemic.
The company said it looks forward with confidence as it delivers on its growth strategy centered on shipbroking.
Braemar said it expects revenue and profit for the full year to exceed fiscal 2021's results and meet current upgraded expectations of operating profit. It didn't provide any figures.
"Our strategic ambition is to push towards doubling the size of the group within four years, through organic growth and complementary, value-added acquisitions," Chief Executive James Gundy said.
Shares at 1008 GMT were up 7.0 pence, or 2.8%, at 258.0 pence.
Write to Joe Hoppe at joseph.hoppe@wsj.com