Last close As at 05/08/2026
GBP2.28
— 0.00 (0.00%)
Market capitalisation
GBP76m
Research: Industrials
Braemar announced today that it would be releasing its FY23 results and its 2023 Annual Report and Accounts on 16 November, followed by its H124 results for the period to 31 August on 29 November. This unusual situation follows the suspension of the shares in July, pending an investigation into a historical transaction. It will be seeking a relisting of the shares after the FY23 announcement.
Braemar |
FY23 and H124 results to be released |
Results and restoration of trading in shares |
Industrial support services |
14 November 2023 |
Share price performance
Business description
Analyst
Braemar is a research client of Edison Investment Research Limited |
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Braemar announced today that it would be releasing its FY23 results and its 2023 Annual Report and Accounts on 16 November, followed by its H124 results for the period to 31 August on 29 November. This unusual situation follows the suspension of the shares in July, pending an investigation into a historical transaction. It will be seeking a relisting of the shares after the FY23 announcement.
Year end |
Revenue (£m) |
PBT* (£m) |
EPS* |
DPS |
P/E |
Yield |
02/21 |
83.7 |
6.7 |
16.2 |
5.0 |
N/A |
N/A |
02/22 |
101.3 |
8.9 |
23.1 |
9.0 |
N/A |
N/A |
02/23e |
151.7 |
19.2 |
45.9 |
12.0 |
N/A |
N/A |
02/24e |
153.1 |
17.5 |
39.9 |
13.5 |
N/A |
N/A |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Today, 14 November, Braemar announced that it would be releasing its FY23 results and its 2023 Annual Report and Accounts on 16 November. It also commented that FY23 revenue and profit guidance was unchanged and that it would propose a final dividend of 8p, bringing the total dividend for the year to 12p, in line with expectations. It will also seek a restoration of trading in the shares following the announcement.
Furthermore, Braemar intends to release its H124 results for the period to 31 August on 29 November, and repeated previous guidance that underlying operating profit (excluding foreign exchange movements) for H124 is expected to be ‘not less than £7.0m’, and the interim dividend would be ‘not less than 4.0p/share’, in line with its progressive dividend policy.
The shares were suspended on 3 July following an announcement on 26 June that stated the board had become uncomfortable with the manner a 2013 transaction for $3m had been historically represented and the way the remaining liability had been recorded on the balance sheet. The group’s non-executive chairman led the specific investigation committee.
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Research: TMT
MGI – Media and Games Invest (MGI) has been steadily gaining market share in a difficult trading environment. It is now the leading mobile open web supply-side platform (SSP) on both Android and iOS in North America; second on Android and fifth on iOS in EMEA. Continuing weak advertising pricing means that FY23 revenue guidance was pulled back at the interims, but careful cost management should ensure EBITDA is flat over FY22, with an annualised cost-saving programme of €10m also put in place. MGI’s fundamentals are positive, with its vertical integration giving an efficient market proposition and earlier acquisitions providing a sound basis for its connected TV offering. The withdrawal of personal identifiers on Google should give further impetus, which we feel is not yet reflected in the rating.