braemar shipping services plc said wednesday that strategic changes made over the past year and a half have driven growth and a strong performance in its fiscal 2022 the londonlisted maritimeservices group said its measures have driven an increase in profitability and led to an exceptionally strong performance in fiscal 2023 lossmaking businesses have been closed central costs have been reduced the core shipbroking business has been expanded the board has been strengthened bank debt has been reduced to near zero and dividend payments have been restored on a progressive basis the company said braemar shipping services also said that although it has identified some historic adjustments in its accounts from the past three years these dont have any negative impact on previouslyreported underlying profitability or cash flow the adjustments it has identified result in an overall increase on the balance sheets net assets over the period and that details of these will be published at the time of its results for fiscal 2022 on aug 30 the company said braemar said the accounts for the year ended feb 28 will be published later than usual and that this was due to auditors and the board reviewing the accuracy of certain foreign exchange and other balance sheet reserve accounts of the business shares at 1121 gmt were up 1250 pence or 48 at 274 pence