Associated British Ports, Britain's biggest ports group, has reported a jump in half-year profits on the back of property sales and higher volumes. The company, which handles a quarter of Britain's seaborne trade, said new contracts and expansion at Immingham on the Humber would drive growth in 2006.
Pre-tax profit before one-off items in the six months to June 30 rose to �67m ($123.6m) from �61.9m a year ago.
The company sold property worth �213m, almost meeting its �250m target.
It is also investing �400m in UK ports over 10 years, with the two new facilities at Immingham becoming operational in 2006.
Chief executive Bo Lerenius said: "These contracts, together with two major projects at Immingham, give us confidence that we will continue to grow the UK ports business during the second half of 2005 and in 2006."
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