Menzies confident about full-year outlook

By GARETH MACKIE
Published on 03/07/2012 09:58

JOHN Menzies said today it was confident that its annual results will meet City hopes and it was continuing to trade well since the start of its new financial year.

Analysts expect the Edinburgh-based baggage handler and newspaper distributor to post a pre-tax profit of around £58 million for the full year, up from £48.5m in 2011.

In its last trading update in May, the group said its aviation division had been boosted by a five-year contract with British Airways to handle luggage for flights out of Edinburgh, Glasgow and Manchester.

Its distribution business, which delivers newspapers and other printed material, saw “disappointing” sales of weekly magazines, although newspaper revenues continued to be positive, driven by cover price growth.