UK shipbroker Braemar is heading for its best-ever profit after a strong year in shipping markets.

The London-listed shop said on Wednesday that its underlying operating earnings for the 12 months ended 28 February will be at least £20m ($24.5m), against £10.1m a year ago.

“The board is delighted to announce that Braemar has achieved record revenue and record profitability for the financial year,” the company said.