However, ABP disappointed shareholders by ruling out a share buy-back or special dividend, sending the shares down a further 17.5p to 275p.
One institution said: "This is not good enough. They had better come up with something better in the review. The management are under pressure to perform."
Analysts believe that Sir Keith Stuart and Charles Orange, respectively ABP's chairman and finance director, could be forced to leave if the reforms end in failure. However, Sir Keith insisted the review would silence critics. "We are not resting on our laurels. We have bought in fresh blood. The process of renewal is already taking place," he said.
Andrew Smith, who joined the group in April to take control of the port operations, said ABP would consider overseas acquisitions and a diversification into other businesses.
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