Braemar claims progress despite nearly doubled losses
Losses at Braemar Group Plc (AIM: BRG) nearly doubled to £109,000 (2008: £58,000 loss) in the six months to September 30, but the Hale-based property investor said it had seen increases funds under management and turnover.
Revenues were £1,439,000 compared with £1,267,000 and Braemar, headed by chief executive Marc Duschenes, said recurring income now covered 63 per cent of its administration expenses.
The group’s Braemar Securities division, which operates funds investing in agricultural land, ground rents and student accommodation, saw funds under management rise 18 per cent to £46m …