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Braemar produced a robust financial performance in H1 despite ongoing headwinds from softer charter rates, geopolitical volatility and a weaker US dollar. Revenue slipped 16% to £63.9m and underlying operating profit fell 30% to £5.1m, post acquisition-related costs. Net debt at the end of August stood at £5.6m, but Braemar had returned to a net cash position by the end of October. The outlook is improving with the forward order book growing from $73.8m at the end of August, to $81.2m by end September. Charter rates are improving and management retain previous FY26 profit guidance.
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