The Scottish ports operator congratulated itself on 'another excellent year'. Pre-tax profits for 1999 grew 23% to £12.2m, on turnover up 15.5% to £30.4m. Despite a strong performance from its Glasgow and Greenock ports and its bulk handling facility at Hunterston, there is a discernible shift towards focusing on its property activities. Indeed, Clydeport continues to revel in the joint venture with the Bank of Scotland, the Glasgow Harbour development. Nevertheless, property investment and development still account for only 6% of turnover but, interestingly, 12% of operating profits. With £13.35m in cash, strengthening its land bank remains a key objective, as reflected by the acquisition of an 80 acre former shipyard. A final dividend of 5.2p brought the total to 7.5p, payable from EPS of 20.66p (18.34p).

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