Tilbury docks help Forth profits rise

Forth Ports reported a 29 per cent rise in interim profits to £16m yesterday after an increase in container volumes at Tilbury docks.

Forth said the London port should also get a boost next year when the 2012 Olympics organising team starts using 500,000 sq ft of warehouse space at Tilbury.

The group reported mixed demand at its six other ports, with container handling at Grangemouth, Scotland's largest container port, down 10 per cent. Overall, profits rose slightly at ports business to £16.9m in the six months to 30 June, while its recycling and property divisions made respective losses of £100,000 and £800,000. Group revenues firmed 3 per cent to £86.9m.

Shares in Forth Ports, which rejected a 1,340p a share bid in May, closed up 2p at 1,288p.