Menzies in Demand, but UK Coal Catches Fire

John Menzies plc, the Edinburgh-based logistics company that is a constituent of the FTSE Small Cap Index, which consists of companies outside the FTSE 350 Index, was one of several companies reporting results on Tuesday. Menzies found favour with investors, its share price closing up 14.5p, or 4.42%, at 342p – having touched a high of 350p earlier in the session – after it reported that pre-tax profits more than doubled in 2009.

Pre-tax and underlying profits increased to £22 million from £9.9 million and £35.2 million from £30.7 million, respectively, for the year ended 31st December 2009 as a result of cost-cutting measures and new contracts, Menzies said. Nebt debt fell by £50.3 million to £132.3 million and Menzies reinstated dividend payments, with payment of...