Forth Ports 'holding up well' in crisis

Published on Friday 26 June 2009 10:01

PORT operator and property firm Forth Ports said today that its business is "holding up well" despite the economic turmoil.

The Edinburgh-based firm, which is behind the vision to transform the Leith Docks area, said that predicting the outcome of its full year is difficult given the current "economic uncertainties" but that it expects it to be "satisfactory".

It said it expects its planning application for The Harbour area, submitted in December 2008, to be considered by planning chiefs in the second half of its financial year.

The scheme, the first part of its wider masterplan, will include a new cruise liner terminal and visitor centre for The Royal Yacht Britannia, up to five new hotels, 1,870 new homes, new cycle ways, parks, gardens and civic squares and a marina including a cross-Forth ferry berth.

Forth Ports also said that, despite the "difficult" market, Ocean Terminal had secured a major new tenant, with fashion outlet Superdry due to open a 6,000 square feet store in August.

In a statement, Forth Ports, which is headed by chief executive Charles Hammond, said: "Although forecasting for the full year is difficult given current economic uncertainties, we believe that the outcome will be satisfactory."