The owner of two docks in Kent has reported “robust” financial results after lower transport of coal hit its margins.

Peel Ports Group, which runs Sheerness and Chatham Docks under its London Medway Ports cluster, increased operating profit before exceptional items by 3% to £141.5 million in the year to the end of March.

However, the company suffered a 3% decline in revenues to £596.2 million amid an 8.7% fall in tonnage through its ports to 57.6 million, according to its latest accounts.

This was mainly due to the expected lower transport of coal after the closure of Longannet Power Station in Scotland.

Turnover was lower in shipping due to the higher euro to sterling exchange rate.

The Liverpool-based company, which is investing in a new deep-water container terminal in the city, managed to grow earnings before interest, taxes and other charges by 4.7% to £199.5 million.

Bosses said the EU referendum result has “created a period of uncertainty” as operating profit after exceptional charges slipped 2.9% to £131.8 million.

This was after including £9.7 million of restructuring costs and the settlement of legal claims, primarily from redundancies at its Hunterston terminal in Scotland, driven by the slide in coal transport.

In his company report, chief financial officer Graeme Charnock said: “This reflects another robust performance by the group, despite the challenges faced by the accelerated decline in the UK coal market.”