P&O offers upbeat container news

P&O has said that container port volumes are continuing to improve, with overall trading conditions consistent with its update in May, when it said strong volumes at container shipping company Nedlloyd were helping drive growth.

It has said that although growth is ahead of market expectations it is partially offset by higher fuel costs and the impact of adverse exchange rates.

P&O has a presence in 17 countries including Ireland, and has said organic growth for container ports remains above 20% year-on-year.

The company has been restructuring its ferries operation with the creation of a single brand following the acquisition of Swedish Firm Stena's 40% stake in P&O Stena Line.

Analysts forecast full-year pre-tax profits of about £117m (€169m).