16th Jan 2015 07:39
LONDON (Alliance News) - John Menzies PLC Friday said that trading has continued to be in line with its forecasts since early November, with the board remaining confident of meeting management expectations for its last financial year, and said it is set to provide further details of its plans going forward.
On November 5, the support services business, which operates ground and cargo handling, cargo forwarding, and news distribution businesses, when issues at Heathrow Airport prompted it to warn that full-year results in its aviation division would be "materially" below its expectations.
John Menzies had warned back in August that its ground handling business at Heathrow was being hit by the changes linked to British Airways' accelerated move to Terminal Five and the opening of the new Terminal Two.
Also in November, John Menzies had said its distribution business continued to deliver results in line with its expectations, with overall sales values of both newspapers and magazines better than expected and cost cutting initiatives on track.
John Menzies said it will report preliminary results for 2014 on March 10, when it will also provide "further clarity of our strategic focus and operational delivery plans".
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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