P&O to unveil €290m annual losses

Ports and ferries group P&O will this week report annual losses of around £200m (€290.4m) after counting the cost of a radical restructuring.

The biggest single blow to the company will be a £240m (€348.5m) charge for overhauling its ferries operation, which has been hit by the ending of duty free as well as competition from low-cost airlines.