28th Apr 2005 12:30
Menzies(John) PLC28 April 2005 28 April 2005 John Menzies plc - Annual General Meeting, Chairman's Statement At the Annual General Meeting of John Menzies plc today, William Thomson,Chairman, made the following statement: "Trading at Group level remains in line with expectations. Distribution istrading behind last year while Aviation is ahead. Free cash flow continues tobe healthy. "Menzies Distribution is experiencing some weakness in partworks, although thisis offset to some extent by increased revenues from newspapers and weeklymagazines. "The Office of Fair Trading is expected to issue shortly a draft advisoryopinion for consultation on the distribution arrangements for newspapers andmagazines. We look forward to this further opportunity for consultation. Weaim to remain the service provider of choice for publisher and retailer alike. "Menzies Aviation continues to benefit from volume growth and greater marketstability, and has started the year positively." Contact: Investor Relations, John Menzies plc 0131 459 8013Ginny Pulbrook/Anthony Kennaway, Citigate Dewe Rogerson 020 7638 9571 Notes to editors 1. John Menzies plc, the time-critical logistics company, isone of Scotland's largest companies. The Company has two operating divisions,Menzies Distribution and Menzies Aviation. These divisions operate in twodistinct sectors where success depends on providing an efficient, high quality,time-critical service to their customers and partners. 2. In the year ended 25 December 2004, Menzies reportedturnover of £1,330.6m (2003 - £1260.3m) and Group profit on ordinary activitiesbefore tax and exceptionals of £30.3m (2003 - £17.1m). Turnover at theDistribution division was £1,109.4m (2003 - £1,058.0m) whilst pre-exceptionaloperating profit was £30.6m (2003 - £26.2m). In the Aviation division turnoverwas £259.8m (2003 - £239.7m) and pre-exceptional operating profit was £10.4magainst £2.4m in 2003. 3. The Company was established in 1833 and its head office isin Edinburgh, Scotland. Today the Company is an international operation withoffices, partners and contracts located in Europe, North and South America,Australasia and Africa. 4. Menzies Distribution is a leading provider of added valuedistribution and marketing services to the newspaper and magazine supply chainin the UK. The division handles over 3,000 magazine titles and 4 millionnewspapers each day (5 million on Sundays) which are delivered to more than21,200 customers. 5. Menzies Aviation is one of the world's major independentsuppliers of ground handling services to the aviation market providingpassenger, ramp and cargo services for many of the world's leading airlines andsome of the busiest international airports. The division employs over 9,300people across the globe, at 92 airports in 23 countries servicing in excess of500 aviation customers. 6. Further information on John Menzies plc can be found at:www.johnmenziesplc.com; www.menziesdistribution.com; andwww.menziesaviation.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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