FPT Forth Ports

RNS Number:3185T
Forth Ports PLC
29 April 2008



                                                                   29 April 2008


                      AGM AND INTERIM MANAGEMENT STATEMENT



Forth Ports PLC is today issuing its first Interim Management Statement ahead of
its Annual General Meeting to be held in Edinburgh today. At this meeting,
shareholders will deal with the proposed resolutions as outlined in the Notice
of Meeting issued to shareholders dated 17th March 2008. In addition, a summary
of the business and financial performance of the Group in 2007 will be provided,
along with an update on current trading, by means of the following Interim
Management Statement on the Group's performance for the first three months of
the current year.


The Group has made a strong start to the year, with trading for the first three
months well ahead of last year.


At Tilbury, revenues are ahead of the prior period. Demand for facilities
remains at a high level. In terms of new business, a new five year contract has
been signed with Stanton Grove for that company to handle their consolidated
paper traffic. Additionally, we have concluded several other new contracts with
existing and new customers.


In Scotland, liquid bulk tonnages are ahead of last year as are container
volumes at Grangemouth and coal volumes at Leith. A new three year contract with
Scottish Power has been signed for coal imports through Leith. At Dundee, we
have agreed another contract, underpinned by minimum throughput revenues, with
J.P. Simpson of Berwick which will involve the purchase of a second grain drier
for the port. Our project stack of potential new investment projects remains at
a level in excess of #50m.


We are working closely with INEOS to minimise disruption to our business as a
result of the industrial action which took place at the Grangemouth Refinery.
The Board currently believes that the two day stoppage should not have a
significant effect on trading.


In September 2007, the Outline Planning Application for Leith Docks was
submitted to City of Edinburgh Council ("CEC"). Good progress is being made with
CEC in considering the application.


We expect to submit a planning application for the Hub by the end of the third
quarter this year. Our joint venture with Applecross should submit its detailed
planning application to CEC during the course of this year.


Our financial position remains robust. Since 31st December 2007, net debt has
decreased reflecting the inflow of funds from the Asda property deal. A further
#50m revolving credit facility is now in place, increasing the banking
facilities to #300m.


Based on current levels of activity and interest, the Board looks forward to
further growth in 2008.



Enquiries:

Charles Hammond, Group Chief Executive  Forth Ports PLC    0131 555 8700
Wilson Murray, Group Finance Director   Forth Ports PLC    0131 555 8700

Jon Coles/Kate Miller                   Brunswick          Tel: 0207 404 5959


Notes to Editors:


Forth Ports PLC owns and operates seven commercial ports in the UK - Tilbury on
the Thames, Dundee in the Firth of Tay and five in the Firth of Forth - Leith,
Grangemouth, Rosyth, Methil and Burntisland. We also operate out of Chatham in
Kent under the Nordic banner.


Within and around the Firths of Forth and Tay, Forth Ports manages and operates
an area of 280 square miles of navigable waters, including two specialised
marine terminals for oil and gas export and provides other marine services, such
as towage and conservancy.


The Group also has significant property interests which it continues to develop
as part of its commitment to increase shareholder value.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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