Britain’s biggest ports operator Associated British Ports (ABP) Holdings plc expects to grow its half-year operating profits by 3%.
In a trading statement, the company also predicts its pre-tax profits for the period up to June 30 to be “ahead of current market expectations”.
ABP, which will release its full interim results on September 7, believes its UK ports business is well-positioned to continue to deliver growth in the second half of the year.
It expects operating profits from property development to be £5m, compared to £400,000 a year ago, due to the phasing of property sales.
The group has now completed £128.1m of its £205m share repurchase programme.
