DCSIMG

Menzies upbeat on prospects for aviation arm

  • by GARETH MACKIE
 

Logistics group John Menzies today told investors that its aviation arm had made a good start to the year, helped by a number of ground-handling contract wins.

The Edinburgh-based baggage handler and newspaper distributor said it expects its cargo-handling operation to deliver a “robust performance” for the full year, although overall results for its aviation business will be weighted towards the second half.

Since the start of the year, Menzies has won a “significant” deal from Delta Airlines and a ten-year ground-handling and plane refuelling licence in Iraq, as part of a consortium.

The group said its newspaper and magazine distribution business “is delivering to plan”, helped by sticker album sales ahead of the World Cup, while some sites have closed as part of its cost-cutting plans.

In a trading statement ahead of today’s annual meeting, Menzies said: “The group’s performance at constant currency continues to track towards the board’s expectations and although the second half performance weighting may result in first-half results being similar to last year, there is no change to the full-year outlook.”

 

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