UK shipbroking group Braemar Shipping Services is expecting annual profit to beat market expectations following strong trading.

The London-listed company said underlying earnings are forecast to be £9.8m ($12.9m) in the 12 months to 28 February, slightly above consensus.

Its full results will be released on 25 May.

“The board is delighted with the performance of the business for the financial year and looks to the future with confidence,” Braemar said in a trading update.