Menzies upbeat on 2014 trading performance

Logistics group John Menzies today told investors that it upcoming full-year results should meet management hopes.

In a brief trading update, the Edinburgh-based newspaper distributor and baggage handler said it would also provider “further clarity” on its strategic focus and operational delivery plans when it delivers its annual figures on 10 March.

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It added that, since it last updated the market, “trading has continued to be in line with our forecasts and the board remains confident of meeting management expectations for the full year ended 31 December”.

In November, Menzies said overall sales from its magazine and newspaper operations had been better than expected, but results from its Aviation arm would be “materially” below the board’s expectations. As a result, divisional managing director Craig Smyth left the business with immediate effect.