By Laura McGuire
Shares in London-listed shipbroker Braemar could be suspended if it further delays the publication of its full-year results.
Braemar said in a statement last month that it will publish its accounts for the year ending 28 February “in the second half of June 2023”.
But, according to a report by Sky News, the business is set to tell investors in the coming days that it will not meet this June deadline.
The firm’s auditor BDO is concerned with some aspects of the accounts, the report said, which has drafted in professional services firm FRP Advisory to investigate the issues.
One source familiar with the matter told Sky News that Braemar’s shares faced being suspended as soon as this week.
Braemar, which has a market capitalisation of roughly £92m, declined to comment on the report, while BDO and FRP Advisory didn’t immediately respond to requests for comment.
It faces becoming the latest London-listed firms to see its shares suspended after Wandisco and Revolution Beauty.
In March, Braemar said it expects to report strong revenues for the year of over £150m, up from £101.3m the prior year.
It’s share price is down nearly 10 per cent since the start of the year, priced at 273p.
