The Edinburgh-based firm last week predicted a “satisfactory performance” for its full year, saying that its ports arm continued to perform in line with expectations.

Forth, which operates seven ports in the UK, including Leith, Grangemouth, Rosyth, Methil and Burntisland north of the border, said operating performance in Scotland had held up well despite lower tonnages in the nine months to September 2009.

But the company has warned of further drops at its Kent-based Nordic operations, which saw half-year profits drop by 10% after the division was hit by the tougher market conditions created by the credit crunch. Full-year trading at the Nordic business is now set to be below previous expectations because of lower recycling tonnage.

Forth, which has reduced its spending on property this year, said that it expects to bring an outline planning application for the harbour development in Edinburgh before the city council’s planning committee in the next few months.

“Our ports business continues to have good visibility, is underpinned by a significant long-term level of contractual backing with a broad range of cargoes and has a strong cashflow,” the company said.

Shares dropped 21p, or almost 2%, to 1,106p.

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