London, July 1, 2026, 17:04 BST
- Braime Group PLC Class A (LON:BMT) was shown at 1,129p at 17:02 BST, down 1.83%, while broker quotes showed a 1,100p sell price and 1,400p buy price.
- The ordinary line, Braime Group PLC (LON:BMTO), was shown at 1,780p, leaving the Class A line at a 36.6% discount by last price.
- Both share classes got the same 16.50p total dividend for 2025; the quoted Class A spread was about 18 times that dividend.
- No newer Braime RNS was listed on Investegate than the June 19 AGM result; that puts the day’s price action mainly in the liquidity file.
Braime Group PLC Class A (LON:BMT), the non-voting A ordinary line of the Leeds-based industrial group, traded on Wednesday with a bigger investor signal in the spread than in the last price. Google Finance showed BMT at 1,129p at 17:02 BST, down 21p, or 1.83%, after a 1,100p-1,400p intraday range. Hargreaves Lansdown showed a 1,100p sell quote and a 1,400p buy quote after the London session, a 300p gap, or 24% of the midpoint. The London Stock Exchange session runs from 08:00 to 16:30; July 1 was listed as a normal Wednesday session.
That spread is the point. A buyer paying the quoted 1,400p ask and later selling at the 1,100p bid would lose 300p before price risk. Braime’s 2025 dividend was 16.50p a share for both ordinary and A ordinary shareholders, so the quoted spread was equal to about 18 years of that payout.
| Market line | Last shown price | Day change | Volume | Average volume | P/E shown | Bid/offer shown |
|---|---|---|---|---|---|---|
| Braime Class A / A non-voting (LON:BMT) | 1,129p | -1.83% | 1,840 | 311 | 5.99 | 1,100p / 1,400p |
| Braime ordinary (LON:BMTO) | 1,780p | +11.25% | 100 | 49 | 9.44 | 1,400p / 1,800p |
| FTSE AIM All-Share | 776.05 | +0.50% | — | — | — | — |
The ordinary line’s 1,780p price put it 57.7% above the Class A line; put another way, BMT traded at a 36.6% discount to BMTO. That is not just a voting-rights point. The ordinary line traded only 100 shares, worth about £1,780 at the last shown price. The Class A line traded about £20,800 by the same rough method. Small lots can set big-looking moves in both lines.
The gap leaves two readings for investors. BMT looks cheaper on headline yield and P/E: Google showed a 1.46% dividend yield and 5.99 P/E for BMT, against 0.93% and 9.44 for BMTO. The other reading is harsher: a cheap-looking small-cap can stay cheap when the dealing cost is wide and the register is hard to enter or exit.
Braime’s last full-year numbers were stronger than the share trading would suggest. Revenue rose 4.1% in 2025, pretax profit rose 27.9%, and basic EPS rose to 188.50p. Cash generated from operations rose to £3.24 million, but inventories also rose and capital spending more than doubled, helped by the Leeds roof work.
| Braime metric | 2025 | 2024 | Change |
|---|---|---|---|
| Revenue | £50.94 mln | £48.95 mln | +4.1% |
| Operating profit | £4.46 mln | £3.65 mln | +22.0% |
| Pretax profit | £4.09 mln | £3.20 mln | +27.9% |
| Basic EPS | 188.50p | 158.37p | +19.0% |
| Total dividend | 16.50p | 15.25p | +8.2% |
| Cash from operations | £3.24 mln | £2.64 mln | +22.8% |
| Inventories | £15.51 mln | £14.45 mln | +7.3% |
The fresh operating question is the March acquisition of Don Electronics and Synatel Instrumentation, not Wednesday’s tape. Braime said the deal was aimed at taking control of suppliers of electronic component parts, and was not expected to add much short-term revenue. The margin math is still material: Don Electronics reported £1.6 million of pretax profit on £7.1 million of revenue for the year to March 2025, while Synatel reported £0.4 million on £3.5 million. Added together, that is about a 19% pretax margin, versus Braime’s 8.0% in 2025.
The deal also added financing risk. Braime paid £5.0 million in initial cash, took on £4.9 million of deferred cash consideration, and said the estimated nominal undiscounted consideration, including interest and assumed earn-out payments, was £13.1 million. The initial cash payment was funded by a £5.2 million term loan from HSBC Holdings PLC (LON:HSBA), due to expire on Aug. 31, 2029, at 2.6 percentage points over Bank of England base rate.
Chairman Nicholas Braime said in April the global economic background was “significantly worse than 12 months ago” and cited cost inflation and weaker investment-led demand. He also said the group benefited in 2025 from new electronic products sold into storage and food-processing sites, with many sales retrofitted to existing equipment.
On the acquisition, Nicholas Braime said Don Electronics and Synatel were “long-standing suppliers” and said the deal would support “future product launches.” The annual results said the 4B division traded in 102 countries in 2025, and Braime said the acquired electronics businesses were expected to improve profit through captured margin rather than near-term sales. Investegate
The latest company RNS shown on Investegate was the June 19 AGM result. Braime said all resolutions were approved at the June 18 meeting, with 344,959 votes for and none against on the listed resolutions, including confirmation of dividends and reappointments.
