The cost of Associated British Ports’ application to build a container terminal at Dibden Bay, near Southampton, has wiped £51.5m of its full-year pretax profits.
These came in at £83m, down from £134m on turnover up from £451m to £492m. With the Dibden Bay effect stripped out, profits would have come in 4% higher than the previous year.
The company said it was not in the market for acquisitions.
It is in final talks over a container terminal it plans to build at Hull. Government approval is expected in the first half of this year.
It is also evaluating the possibility of “another major development” in Hull.
References: Financial Times 17/02/05 page 22, The Guardian 17/02/05 page 21, The Times 17/02/05 page 46 (Need to know), page 47 (Results in brief), page 57 (Tempus), The Daily Telegraph 17/02/05 page 35, The Inde
