At the time of announcing our 2000 results, we indicated that property development profit in 2001 would be weighted towards the second half of the year and this is still the case. Furthermore, the increased growth rate from the Group’s UK ports in 2001 will more than compensate for any decline in investment and development property profits for the full year 2001 as the Group’s resource of non-core property continues to be reduced.
Overall, I am pleased to report that we have made a satisfactory start to 2001 and expect the Group to make further progress during the remainder of the year.
