The British firm, which provides broking and technical consulting services to marine and energy industries, said transaction numbers would rise but at lower average commissions.
"The demand for capesize bulk carriage, which is mainly a story about iron ore going into China, remains significant. But there is a lot of tonnage coming into the shipyard that will probably absorb all the growth," Finance Director James Kidwell told Reuters.
Shares of Braemar, whose rivals include Clarkson and ACM Shipping , were trading down nearly 2 percent at 530 pence at 0918 GMT on the London Stock Exchange.
"We remain positive about long-term prospects of the business but it will need some form of catalyst to take things to a higher level in the short term," analyst Ian McInally at Cenkos Securities said, calling the company's growth outlook "fairly benign".
Braemar's Kidwell also said he did not expect the U.S. grain export season to have any significant impact on the company.
The Baltic Exchange's main sea freight index <.BADI>, which tracks rates to ship dry commodities, gained on Monday as Chinese iron ore and coal enquiry bolstered sentiment for larger capesize vessels.
Brokers said rates for smaller panamaxes also had turned positive, with hopes that the U.S. grain export season could provide further support. [ID:nLDE69O1P5]
Kidwell expects future growth to come from Braemar's Asian expansion after many of its clients relocated to Singapore from Australia and Europe to capitalise on the country's tax incentives.
For the March-August period, it posted a pretax profit of 7.2 million pounds ($11.3 million) compared with 7 million pounds a year ago.
Revenue at the company, which raised its interim dividend by 3 percent to 9 pence, rose 18 percent to 67.6 million pounds. (Reuters)
