BRG Braemar

 

TIDMBRG 
 
RNS Number : 0405A 
Braemar Group PLC 
01 October 2009 
 
 
 
 
 
Embargoed 1st October 2009 
 
 
Braemar Group plc ("Braemar" or the "Group") 
 
 
TRADING UPDATE 
 
 
 
 
Braemar Group plc ("Braemar" or the "Group") today provides the following update 
for the six months ended 30 September 2009, the full results of which will be 
announced in November 2009. 
 
The Group has made the following key achievements: 
 
Braemar Securities 
We have further diversified our range of funds to include Ground Rents, launched 
during the summer, adding to the existing Agricultural Land and Student 
Accommodation funds. All three funds take the form of Guernsey registered Open 
Ended Investment Companies. This move to list funds on the Channel Islands Stock 
Exchange has increased our funds under management by 18% during the last six 
months to GBP46m. 
 
 
The adverse stock market conditions experienced in recent months impacted the 
fundraising for Braemar UK Agricultural Land plc and the decision was taken to 
abort its admission to AIM. All the abort costs were absorbed by Braemar UK 
Agricultural Land plc. 
 
 
Braemar Estates 
Our property management division which is now responsible for the management of 
c. GBP290m of assets and representing some 2,645 apartments, has proved 
resilient during the wider property downturn, particularly as our activities are 
limited to the management or refurbishment of assets we own, assets in funds we 
manage and third party owned freeholds. The division also acts as Property 
Advisor to two of our three OEICs and we expect margins to improve accordingly 
as it continues to scale up with little additional cost required to do so. 
 
 
Financial Outcome 
The group will report revenue growth for the period and a small pre-tax loss, 
but the Directors are pleased that the above achievements are continuing to 
provide a stable footing for the Group. This will be reflected in further 
revenue growth in the full year and in a continued build up of recurring income. 
 As fund raising progresses, the Directors expect trading will have strengthened 
further by the time of our interim results announcement. 
 
 
For further information please contact:- 
 
Martin Robinson, Chairman, Braemar Group plc                  0161 929 4969 
Marc Duschenes, Chief Executive, Braemar Group plc       0161 929 4969 
Julie Serrage, Investor Relations                                        0161 
929 4969 
Alex Clarkson/Nick Cowles, Zeus Capital                             0161 831 
1512 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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