P&O Stena Line Q1 2001 vs Q1 2000

Tourist vehicles 259 vs 294 Passengers 1,752 vs 1,875 Freight units 282 vs 278

"Continental forward bookings remain weak," P&O said in a statement.

The comments from P&O follow warnings over the affect of foot-and-mouth on business from other transport firms including British Airways, airports operator BAA and Eurotunnel.

Fast food giant McDonald's and footwear leader Nike are among others saying they are being affected.

US slowdown effect

In other comments, P&O said that a private security company it had employed to carry out checks for illegal immigrants on crossings from Calais had found more than 1,600 illegal immigrants so far.

P&O said it was now carrying out the same checks on crossings from Zeebrugge.

The company, which also operates ports, said the US economic slowdown was having a "limited impact" but had affected cargo volumes at some terminals.

But, it added: "This has been largely offset by local market considerations and P&O Ports' strong competitive position within those markets."

Overall volumes passing through P&O-run ports were up 35% in the first quarter, helped by acquisitions and investments in new terminal facilities.

P&O shares were up five pence to 270p in early trade in London on Wednesday.

This compared with a 52-week high of 325p.