Braemar Shipping Services has seen its first half operating profit fall by 80% to just £1.4m ($1.7m), figures released on Tuesday show.
Revenue for the London-listed shipbroker came in at £70.2m a year-on-year decline of 11.8%.
Braemar’s shipbroking arm reported a 13% decline in interim operating profit to £4m as revenue slipped 7.5% to £30.8m.
“As highlighted previously, rates in most shipping markets fell during the first half of this financial year compared with the equivalent period last year,” said chief executive James Kidwell.
“Our
