Associated British Ports (ABP) Holdings plc expects its turnover and operating profits to grow modestly during the first half of 2003, the company announced in a trading statement.
Despite an uncertain economic climate, ABP predicts turnover from core UK ports and transport activities to grow by at least 5% for the six months ending June 30, compared with the same period last year. Pre-tax profits are expected to be in line with current market predictions, while operating profits are anticipated to rise by at least 3%.
ABP has announced several major investments in the forest products sector this year including an £800,000 spend on facilities and cranage for pallet manufacturer Scott Timber’s expansion at the Port of Barry. It is also investing £700,000 on building a new warehouse for Humber Timber Terminals Ltd next to the Port of Immingham‘s forest products terminal.
