Ports group buoyed by half-year revenue rise

Ports group buoyed by half-year revenue rise

Half-year revenues have risen at Associated British Ports (ABP), the operator behind a network of 21 ports across England, Scotland and Wales.

In the six months to 30 June revenue climbed by 3.9 per cent to £268.8m, while EBITDA pre-exceptional costs rose by 2.1 per cent to £158.5m.

Consolidated EBITDA margin (pre-exceptional costs) was down 1 per cent to 59 per cent, the group added.

The ports business is on the lookout for new boss to succeed James Cooper who is to stand down as a director and chief executive some time in 2018, after more than ten years as a director and having been at the helm since April 2013.

ABP’s ports include Immingham, the UKs busiest, Southampton and Lowestoft.

In 2016 ABP and its customers handled 89 million tonnes of cargo.

Sourece: www.insidermedia.com, 29 September 2017

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