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Profits hike predicted for Associated British Ports
Page 11
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A OCIATED BRITISH Ports (AP) expects its operating profit fron UK ports and transport activities to grow by 3% when its re ults for this year are released in ebruary.
n a trading statement for the ye rending 31 December 2005, A P says it anticipates pre-tax pr fits to be in line with market ex ectations". Construction of R -R0 facilities and the exten sion of the Humber International Terminal at the Port of Immingham are on budget and will become operational in the first half of 2006 at a cost of E87m The port, which also controls Southampton Container Terminal (SCT), says overall volumes have increased with growth in coal, iron ore and other bulk imports. But it reiterates thatROR0 volumes and stevedoring activity will be lower than in 2004.
Throughput of containers increased at Tilbury throughout the year, but volumes decreased at SCT.
The statement explains: This reduction reflects the loss of a service in the second half of 2004. As a result, we expect operating prof it from the operations of associates to be lower than last year."