Forth reports 34% hike in profits

Mar 16 2009

Forth Ports has reported a 34% hike in annual underlying profits after the best ever year for its ports division.

The Edinburgh-based group, which also has a property arm, posted underlying pre-tax profits of £37 million for 2008, up from £27.6 million the previous year, with earnings in the ports business up by 23%.

Forth Ports - which owns and operates Tilbury, the largest port serving London - said the financial crisis had a "major" effect on its development assets and property portfolio.