Braemar Group reported that its performance for the financial year ending February 28, 2026, aligned with market expectations.
Generating revenue of approximately £135 million ($171 million), the shipping and energy services provider saw a slight decrease from the £141.9 million recorded in the previous year.
Underlying operating profit reached roughly £13.2 million, compared to the £16.7 million achieved during the 2025 financial year. Despite this year-on-year drop, the company noted that its second-half performance was stronger than the first six months.
Net debt for the group stood at £2.9 million as of February 28, 2026, though a return to a net cash positive position is anticipated during March 2026. Completion of a £2 million share buyback programme preceded this financial standing.
James Gundy, Group Chief Executive Officer, said, “We continued to benefit from our diversified business model during FY26 and made good progress against the objectives we set out at the start of the year.”
The forward order book remained at $72.5 million at the end of February, which covers revenue that the group expects to earn in future periods until 2039. Ongoing conflict in the Middle East is creating uncertainty by increasing rates while lowering volumes in certain markets, the group noted.