RNS Number : 7623X
  Forth Ports PLC
  30 June 2008
   

    


    30th June 2008


    PRE-CLOSE TRADING UPDATE FOR THE SIX MONTHS ENDING 30TH JUNE 2008


    Forth Ports PLC ("Forth") is making this statement in advance of the publication of its interim results for the six months ended 30th
June 2008 scheduled for 28th August 2008.  The results for the first half are expected to be well ahead of the first half of last year.

    Ports Division 

    At Tilbury, the financial performance is expected to show another significant improvement over the first half of last year. The ro-ro
business has seen a good increase in volume and performed well during the period.    Tilbury is on the final shortlist for the Olympics East
London logistics site.  Several new contracts have been concluded.  Planning approval was granted in May to erect four wind turbines in the
port to generate part of the port's electricity requirements.  Tilbury Container Services Limited is well ahead of last year in both volume
and profitability. 

    The Nordic recycling business, particularly the new Materials Recycling Facility at Tilbury, has performed well in the first half and we
are pursuing a number of expansion opportunities.

    Within Scottish Ports and Marine, the piped cargo tonnages have increased to their highest level for four years and container volumes at
Grangemouth have increased more than 10% versus the first half of 2007.

    Overall, the trading performance in the ports division should show strong growth in the first half of 2008 over the equivalent period in
2007.  The outlook for the second half of 2008 in ports is, as in prior years, for an improved performance relative to the first half. In
Scotland, we should see the container volumes being sustained at Grangemouth and improved grain tonnages at Dundee.  We also expect Bredero
Shaw to commence imports of steel pipes.  At Tilbury, grain and bulks are expected to improve in the second half.

    Property Division

    We continue to make physical and planning progress in the regeneration of Edinburgh's Waterfront. Although short-term market conditions
in property are difficult, we remain committed to realising long-term value from this unique development asset for our shareholders.

    Work has continued on the outline planning application for Leith Docks which was submitted to the City of Edinburgh Council in September
2007 and we expect that this application will be formally considered by the Planning Committee in the second half. Work on the Hub outline
planning application and masterplan is close to completion.

    Asda has started construction on site at Western Harbour and should be open for business in time for Christmas. Our plans for a new
entrance at Ocean Terminal to complement the Tram stop outside the shopping centre are progressing well.  Work to reconfigure some of the
internal areas of the shopping centre will also be carried out.

    Energy

    We are pleased to announce the formation of a strategic partnership with Scottish and Southern Energy plc to develop renewable energy
projects. The first joint venture project will be to invest in the Port of Tilbury wind farm which is estimated to cost around �12m. 
Further details may be found in the press release separately announced today and on the Forth Ports PLC website - www.forthports.co.uk

    Outlook 

    As in prior years, the second half of the year should see an improvement in the financial performance over the first half and we expect
a strong trading performance for the full year.



    Enquiries: 

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

    Brunswick  
    Jon Coles - Tel: 0207 404 5959
    Kate Miller - 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.  It also operates 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
 
  END 
 
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