A warning for high flying John Menzies

DISTRIBUTION and aviation firm John Menzies remains on course to post a 20 per cent rise in pre-tax profits to £45 million.

In a short pre-close update ahead of its full-year results in March, Edinburgh-based Menzies said it had “continued to make positive progress”. But Peel Hunt analyst Christopher Bamberry warned “2012 is likely to be a more difficult year” due to “softening” in the aviation sector, as reported by the IATA trade body.