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RNS Number : 0559G

Forth Ports PLC

06 May 2011

AGM AND INTERIM MANAGEMENT STATEMENT - 6(TH) MAY 2011

Forth Ports PLC is issuing its Interim Management Statement ahead of its Annual General Meeting to be held in Edinburgh today. This meeting is being held subsequent to the Court Meeting and General Meeting which took place on April 28(th) 2011 at which shareholders voted in favour of the recommended offer by Otter Ports Limited, a wholly-owned indirect subsidiary of Arcus European Infrastructure Fund 1 L.P. Although the Scheme of Arrangement has been approved by shareholders, it has not yet been sanctioned by the Court of Session and has therefore not yet become unconditional. It is intended therefore to propose all the resolutions contained in the Notice of AGM sent to shareholders on 31(st) March 2011.

Trading

Trading for the first quarter of 2011 has been ahead of the equivalent period in 2010 and in line with the Board's expectations. Within this performance there has been good growth in the operating profit for Scottish Ports, the Port of Tilbury and our Property Division but there were weaker results in our Recycling and Scottish Marine operations.

Outlook

Although the current economic outlook remains uncertain and the recovery in the economy slow, our business continues to be resilient as a result of its diversified cargo and customer base which means the Group is well placed to continue to grow as economic conditions improve.

Enquiries:

 
 Charles Hammond, Group Chief 
  Executive                        Forth Ports PLC    0131 555 8700 
 Stuart Paterson, Group Finance 
  Director 
 
 Jon Coles/Kate Miller             Brunswick          Tel: 0207 404 5959

Notes to Editors:

Forth Ports PLC owns and operates eight commercial ports in the UK - Tilbury on the Thames, Dundee on the Firth of Tay and six on the Firth of Forth - Leith, Grangemouth, Rosyth, Methil, Burntisland and Kirkcaldy. It also has a business, Nordic, which operates out of Chatham in Kent and Tilbury, which is engaged in port activities and recycling.

Within and around the Firths of Forth and Tay, Forth Ports manages and operates an area of 280 square miles of navigable waters, including two specialised marine terminals for oil and gas export and provides other marine services, such as towage and conservancy.

The Group also has significant property interests as well as renewable energy projects where the Group is looking to gain planning approval for onshore wind installations and biomass facilities in its ports in Scotland.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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