Galbraith’s profit up as it sheds pension scheme and seeks to build market share

UK shipbroker Galbraith’s has revealed rising earnings and a big gain from transferring its defined pension scheme.

In a filing with Companies House, the company said operating profit for 2020 came in at £1.5m ($2m), up from £1.2m in 2019.

The net figure was £4.48m, against £944,000 the year before.

This rise was due to the offloading of its pension scheme to Galbraith Holdings.