Overall the company's ports division has performed in line with expectations, reflecting a range of performances across different ports and key cargo sectors.

Liverpool has seen growth in container volumes and a weakness in roll-on/roll-off and agribulks. Fresh produce imports at Sheerness have been similar to 2002. In Dublin, Marine Terminals' re-equipment programme was completed in February and the two new services have generated strong growth in the first half.

The shipping division has experienced continued pressure on margins and the Logistics and Transport division's overall trading is also expected to be slightly weaker than in 2002.