Profits boost for Forth Ports

Scottish docks have enjoyed a strong performance

Forth Ports has announced a 25% increase in profits, with a "strong performance" by its ports at Dundee and Grangemouth.

The company said annual pre-tax profits for the year ending in December were £37.1m, up from £29.6m the year before.

Forth owns and operates eight ports in the Forth and Tay Estuaries in Scotland and at Tilbury, in Essex.

There was a very strong performance at Dundee, while Grangemouth had its best ever year

Charles Hammond, chief executive

The company said turnover rose by 6% to £114.4m.

Chief executive Charles Hammond said: "We saw very solid port operating profits while profits from property have almost doubled.

"There was a very strong performance at Dundee, while Grangemouth had its best ever year."

Mr Hammond said the group had also continued to invest in its ports and property portfolio during the year, with £22m targeted at the ports and £1m at property.

He said: "We feel well placed for another successful year."

The chief executive also believed a slowdown in the US would not have a big impact on its business, as the group did not have a "huge exposure to the US".

Shareholders will pick up a total dividend of 27p, up from 17.6p last year.