The UK’s largest ports operator Associated British Ports plc (ABP) has reported a 7.1% growth in annual group operating profits to £210.3m.
Total tonnage handled at ABP’s UK ports in 2011 was 115.2 million tonnes, a drop of 2.8% on 2010, with dry bulks performing the best (+4.2% to 36.8 million tonnes) but declines in the other categories – general cargo (-1.7% to 5.9 million tonnes) and roll-on/roll-off vehicles (-2.3% to 25.2 million tonnes).
Forest product volumes reduced in the general cargo category.
The ports and transport division recorded a 3.3% growth in revenue to £421.4m, with operating profits of £216.4m.
Grimsby and Immingham remained the largest port in the UK by volume with an aggregated volume of 54 million tonnes.
ABP said it was pursuing some major developments, including in the biomass sector.
This includes prospects for a 49MW biomass power plant at Newport which could see ABP invest in cranage to handle biomass fuel imports with the investment underpinned by a long-term contract. And it believes there is significant scope for the group to benefit from other biomass developments at its other ports.
