Forth Ports Share Discussion Threads

[dontrader] 05/1/2011 16:24

I've been a very long term holder of Forth Ports and left Edinburgh over 5 years ago so have had little to gauge how the city was faring in the current economic climate. We visited Edinburgh between Christmas and New Year and visited Ocean Terminal a few times to eat and take the wee boy to the pictures. I was surprised how many more people were in Ocean Terminal than previously. With the footfall they are getting and most units taken this show help valuations.

Don

[philo124] 04/1/2011 20:30

I am underwhelmed.

[highland terrier] 09/12/2010 21:05

£14 but the takeover group went to the principal shareholders and asked if they would accept £15 per share, they were told no and that's why the takeover attempt was dropped.

[philo124] 09/12/2010 19:36

What was the value of the bid turned down by the Directors?

[apad] 09/12/2010 18:56

You couldn't make it up

[islandbaggers] 09/12/2010 17:40

09 December 2010
By MICHAEL BLACKLEY
City Council Reporter
PLANS to build one of the world's biggest ferris wheels in Edinburgh have taken a huge step forward after it emerged a deal has been struck on a site.

Great City Attractions - the company behind the world's biggest observational wheel in Singapore - has clinched a deal to build a similar structure at Edinburgh's waterfront.

Forth Ports, the developer behind the £700 million regeneration of Leith Docks, has agreed to provide land for the development next to Ocean Terminal and the proposed tram stop.

Plans for the structure, which is expected to be 85 metres tall and labelled "Scotland's national wheel" are expected to be unveiled before Christmas.

City leaders believe that the plans could kickstart the redevelopment of the entire waterfront area.

Nigel Ward, head of global development at Great City Attractions, said: "We are preparing a planning application to be lodged before the end of this year and we have provisional agreements in place with all parties.

"This will be a world-class development for Edinburgh. It has been tagged as Scotland's national wheel and it will bring huge benefits to the area and to the city."

It is understood that the wheel could be operational by as early as 2013 if the planning process goes smoothly.

The agreement to use land outside Ocean Terminal - the site usually used by the Chinese State Circus and other events - clears a major stumbling block for the proposal.

Forth Ports is understood to be keen to see development take place as quickly as possible as bosses at the firm believe that the wheel could help attract other businesses and developers to the Leith Docks area.

Forth Ports was not willing to disclose details of the agreement it has struck with Great City Attractions. It is not known whether the company had to pay for the land or whether it was donated in return for a share of profits.

The city council has signed a memorandum of understanding, a more formal version of a gentleman's agreement, with Great City Attractions to bring a wheel to the city.

Councillor Tom Buchanan, the city's economic development leader, said: "It is in Great City Attractions' interest to come forward with this as quickly as possible. This will not cost the council any money as all the risk is with Great City Attractions and they will want to be raising revenue as quickly as possible.

"We want attractions at the waterfront that drives people to that area and I am very pleased to see that this is moving quickly.

"In other cities such as Belfast people discuss it and want to see it and it acts as a magnet for money in the area that it is in."

[alanrussell] 01/12/2010 17:12

Not a pile of poo at all! A sound company, well run. Granted the share price has not been too exciting of late but that's because, IMHO, it had risen too high in late summer.

Indeed during some of the recent days when the market dropped sharply the price held up well showing impressive strength. So much so that I was beginning to doubt if I had done the right thing selling at the start of October. But then today, with the FTSE250 up 2%, the price remains stationary. Hard to figure which way this is headed.

[philo124] 24/11/2010 09:04

WOT A PILE OF POO!

[alan russell] 06/10/2010 13:44

FWIW I've sold all my shares in FPT. I still consider it an excellent company and a good long term investment, however even the best company can be too expensive. Regarding FPT itself I feel the price is only supported by hopes of a bid - fundamentals just don't justify the price. Maybe a bid will come again but it may not or, more likely in my view, it could a year away. Regarding the broader market IMHO it is too high - too much bad news yet to come out. After the recent good run a fall back is on the cards. Put the two together and I prefer to sell hoping to buy back in at a lower price again.

I could be completely wrong; make up your own mind. Good luck.

[alanrussell] 30/9/2010 20:54

TIF unlocks Ocean Terminal extension
Published: 29 September, 2010

Edinburgh's Ocean Terminal is to be extended after the Scottish Government cleared the way for the UK's first TIF scheme

Scotland's Finance Secretary John Swinney has backed the City of Edinburgh Council's proposal to use Tax Incremental Financing for £84m of infrastructure that will unlock £66m of private investment by the centre's owners Forth Ports.

Pioneered in the United States, TIF allows councils to borrow cash for the project against the anticipated increased tax revenues that it will generate. Other major retail projects in Scotland, including the redevelopment of Ravenscraig and the extension to Glasgow's Buchanan Galleries could now benefit from similar funding.

Swinney said: "Westminster cuts to the Scottish Budget have emphasised the importance of finding new funding models to deliver crucial infrastructure projects such as the Edinburgh Waterfront, that can unlock further economic development, whilst ensuring maximum value for the public purse."

[tenapen] 19/9/2010 16:29

I wonder if the fall in the cost of hiring the one of these super tankers as dropped in price. This says the Times yesterday that the World economy as slowed and the need to move goods from Port to Port as also slowed.

Fingers crossed.

[dontrader] 27/7/2010 15:26

FPT has shown a steady rise since the abortive takeover bid. Kind of justifies the holders wanting to hold on now imho.

Don

[tenapen] 04/7/2010 14:31

A Good and honest post Alan.

[alanrussell] 04/7/2010 13:51

From the Independent 2-7-10
.....................................................................

Our view: Buy

Share price: 1141p (-38p)

after a tempestuous half-year, Britain's only listed ports company published a pre-close trading statement yesterday forecasting results well ahead of last year. Forth Ports – which owns and runs seven facilities including Grangemouth, Rosyth and Tilbury – is still smarting from the collapse of takeover talks with major shareholder Northstream, a consortium which includes Arcus European Infrastructure, Peel Holdings and RREEF. It upped its bid twice before walking away at £14 per share, valuing the group at £640m, in late May.

Forth's management maintained that the offer undervalued the business and specifically the potential of a 400-acre plot the group owns on the Edinburgh foreshore. But the share price plunged by more than £1 nonetheless. The good news is that Northstream still owns more than a quarter of Forth's shares, so the door cannot be completely closed. In the meantime, progress is good.

Although short sea containers at Tilbury are still behind last year's levels, and container volumes at Grangemouth are flat, forest products tonnage has "increased substantially" with animal feed also on the rise. The group has slashed costs and boosted efficiency as well. Perhaps most important of all, enquiries for additional dry and liquid bulks and offshore renewables have increased markedly.

Better still, Forth's Nordic recycling business has seen a boost from improving commodity prices. Plans for the development of Leith Docks were approved last week, and plans for a biomass power station, in a joint venture with Scottish and Southern, have been submitted. Notwithstanding a forecast multiple of 21.1 times 2010 earnings, Forth looks well-placed with good earnings certainty, increased new business, a big surplus land bank and a fledgling but exciting renewables business. Acquisition or not, Forth Ports looks strong. Buy.
.........................................................................................................

I would rate FPT a solid hold but necessarily a buy at present IMHO. The market generally is likely to take a lurch or two down over the coming months so a better price may well present itself. Equally it is hard to see any great upside in the immediate future. No need to hurry to buy.

[aspers] 03/6/2010 14:31

Alan...she well knows this will be taken out for plus 1400p....maybe not this month but soon!!! ;-)

[alan russell] 03/6/2010 13:26

aspers
Clearly you a person of some influence! Noting your purchase, one of the directors decided to buy at £11.20.

[aspers] 01/6/2010 18:20

I am now in at 1103.....I think we may see another bid coming to the table very soon, if not a no brainer longer term!!

[alanrussell] 30/5/2010 17:39

Have to agree with you there hp. Good value indeed at £8 ..... but will we see it there? Outside of a complete market meltdown (not out of the question) I think not. The ports business is one of the best defensive holdings about. It will tick over bringing in revenue. As for the property side ...... no joy here in the near future, but when the next cycle starts the land will still be there. Not that I'm under any illusions as to how long that will take to emerge. Hopefully by 2013 things will be looking up and by 2014/2015 all that land should be worth a few pounds again. Time will tell.

[halfpenny] 28/5/2010 15:15

good value at £8 so i am waiting as there are more falls to come...and soon

[alan russell] 28/5/2010 08:39

Peel announces that it will not be making an offer. Good, it would have been too cheap. I have just bought back the shares I sold at the start of March @ £11.16.

I expect a weak market over the summer (so much likely to happen that will spook the markets) so these may well go lower but on a 5 year view I regard FPT as very good value.

[alanrussell] 19/5/2010 10:22

The present uncertainties do not create a helpful backdrop for Peel. I'm rather hoping they will decide to drop the bid. Not long to go now.

[alanrussell] 29/4/2010 16:47

Takeover panel rules deadline for final bid is 1st June

[highland terrier] 28/4/2010 16:10

The offer from Peel states that it values the property section at £52.6 m, which is 59% more than the latest DTZ valuation of £33 m, which was published in December.