Braemar Faces Crisis as Delayed Accounts May Result in Share Suspension

Braemar, a London-listed shipbroker, is facing a crisis as a delay in the release of its full-year accounts may result in the suspension of its shares.

The auditor, BDO, has notified the company of concerns about certain items in the accounts, and drafted in experts from FRP Advisory to investigate.

The nature of the issues is unclear.

Braemar provides shipping investment, chartering, and risk management services, and recorded record sales and profits in the year to February 2023.

If its shares are suspended, it will be the latest in a series of companies to face such a challenge.

Braemar declined to comment.