Market tailwinds may be blowing Braemar to record earnings, but chief executive James Gundy says there was nothing lucky about his decision to focus on core shipbroking and finance operations.

The London-listed group will log at least £20m ($24.5m) in underlying operating profit for the year to 28 February, with most shipping sectors buoyant.

Braemar has sold off engineering and logistics businesses over recent years to target its traditional business.