Aug
John Menzies profit up
Posted by
(Reuters) - Newspaper distribution and aviation services firm John Menzies Plc (MNZS.L) reported a 46 percent rise in its first-half underlying pretax profit as cargo volumes recovered and the company reiterated its full-year outlook.
"The board expects the full-year results to be slightly ahead of current market expectations," the company said in a statement.
Analysts' on average expect the company to post a full-year pretax profit of 41.7 million pounds on revenue of 1.8 billion pounds, according to Thomson Reuters I/B/E/S.
John Menzies, which had reinstated its dividend payment from March 9, said it would pay an interim dividend of 5 pence.
Underlying pretax profit for the six months ended June, was recorded at 19.3 million pounds, compared with 13.2 million pounds.
The company, which operates across two divisions -- Menzies Aviation and Menzies Distribution -- posted a revenue of 924 million pounds, up 12.5 percent from a year ago.
Profits at Menzies Aviation more than doubled despite the effect of the Icelandic volcano, while the company's distribution division performed in line with its expectations.
John Menzies expects its aviation division to exceed full-year market consensus.
The Edinburgh, Scotland-based company's shares, which have gained 37 percent since the beginning of the year, were up 3 percent at 427 pence at 0704 GMT on Thursday on the London Stock Exchange.
(Reporting by Juhi Arora in Bangalore; Editing by Aradhana Aravindan)
*We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters.
This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php
Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent.
- Bookmark :
- Digg
- del.icio.us
- Stumbleupon
- Redit it
