Mersey eyes foreign ports

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The Independent Online
MERSEY DOCKS is looking abroad for ports to manage, according to its chairman, Gordon Waddell. The company, which bought Medway Ports late last year, has reported a 38 per cent rise in pre-tax profits to pounds 20.9m in 1993.

Mr Waddell said Mersey would look at other opportunities to buy trust ports in Britain as more were privatised. Meanwhile, its international arm was examining whether to pitch for contracts to manage privatised ports in Russia, Aden and Venezuela.

Turnover on continuing operations was ahead 7.5 per cent at pounds 92.9m but Medway, which contributed for nine weeks, added pounds 5.6m of sales and pounds 1.3m of operating profits. The dividend rises 20 per cent to 9p on earnings per share a third higher at 19.96p.

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