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BROKERS yesterday upgraded their profits forecasts for John Menzies, the Edinburgh-based aviation and newspaper distribution group, despite the firm announcing that last week's volcanic ash crisis had cost its airport ground-handling division an estimated £2.5 million.
PAUL Dollman, finance director at aviation and distribution group John Menzies, yesterday claimed the "worst was behind us" as he revealed pre-tax profits had more than doubled to £22 million.
NEWSPAPER distributor and air freight group Menzies says its results for 2009 will be ahead of expectations, while it continues to cut its debt pile.
NEWSPAPER distribution and aviation services firm Menzies enjoyed a share price fillip yesterday after reporting its annual results would be "well above" the market's expectation.
JOHN Menzies welcomed the end of a long investigation into its news distribution as the consumer watchdog decided not to order a competition inquiry.
NEWSPAPER distribution and airport ground-handling group Menzies saw its share price soar 23.8 per cent yesterday after revealing a cut in its debt burden and increased profitability.
IT WAS a bright spring day a little more than a decade ago when the board of John Menzies decided to sell its eponymous chain of book and newspaper sellers. It was an emotional decision. Retailing had been part of the business since 1833 when the first shop opened at 61 Princes Street – premises to which Charles Dickens would become a frequent visitor.
LOGISTICS group John Menzies took 500 staff on to its payroll yesterday, after the news distribution business of rival Dawson was placed into administration and sold.
Ellis Watson is tipped to be the successor to FirstGroup's chief executive Picture: Jane Barlow
JOHN Menzies yesterday vowed to continue mopping up key distribution contracts, after the Edinburgh-based group unveiled the latest in a string of improved multimillion-pound deals, this time with Trinity Mirror.
SWINE flu in Mexico has hit trading at Menzies, the Edinburgh-based newspaper distribution and baggage handling group, forcing the firm into an "aggressive" cost-cutting programme.
SHARES in newspaper and magazine distributor Menzies soared yesterday after it disclosed it had captured a "significant" share of business lost by one of its main competitors.
JOHN Menzies, the Edinburgh-based aviation services and distribution group, has appointed Hymans Robertson to advise its pension scheme trustees.
VENERABLE print distribution and aviation group John Menzies has entered the digital 21st century with a new website that could become "the iTunes of the magazine industry".
JOHN Menzies has announced a "strategic withdrawal" from the Peruvian aviation services market, netting itself more than £10 million in the process.
JOHN Menzies yesterday said its rapidly expanding aviation business would enjoy double-digit profit growth for the "foreseeable future" as it tapped into new markets such as India and South Africa.
JOHN Menzies, is in advanced discussions to buy part of the ground handling services of Finnair. Northport, the ground handling subsidiary of Finland's largest and flag carrying airline said it had signed a memorandum of understanding with Menzies Aviation for its Swedish and Norwegian operations as part of a planned restructure.
JOHN Menzies said yesterday it could spend up to £35 million to fund an expansion in its aviation business into India and South Africa.