Braemar (BMS) H1 2027 TU earnings summary

Executive summary

• Revenue increased 16% year-over-year to £74.3m for the six months ended 31 August 2026, reflecting a strong rate environment.

• Underlying operating profit rose 7% to £6.0m, after £1.4m in strategic investments aimed at future growth.

• Net debt was reduced to zero by the end of the period, compared to £5.6m in the prior year.

• The forward order book remains robust at $73.4m, supporting future revenue visibility.

Financial highlights

• Revenue up 16% to £74.3m compared to £63.9m in HY26.

• Underlying operating profit up 7% to £6.0m versus £5.6m in HY26.

• Net debt eliminated, down from £5.6m at HY26.

• Forward order book at $73.4m, stable year-over-year.

Outlook and guidance

• On track to deliver full-year results in line with market expectations: revenue consensus at £139.5m and underlying operating profit at £14.2m.

• Strategic investments in people and platform expected to drive profitable growth in H2.

• Increased market volatility supports strong demand for advisory and risk management services.