Menzies Aviation reports financial results
SYDNEY (Centre for Asia Pacific Aviation) - John Menzies plc, parent of Menzies Aviation, reports (06-Sep-05) the following financial highlights in the six months ended 25-Jun-05:
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Revenue: GBP668.6 million, +0.04%, attributed to:
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Distribution: GBP542.6 million, -1.5%;
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Aviation: GBP126.0 million, +7.1%;
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Ground handling volume rose 16.0% year-on-year. Strong growth rates were recorded in the UK,
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Cargo handling volume increased 5.0% year-on-year. Strong growth rates were recorded in Australia and the Netherlands, up 22.0% and 11.0% respectively;
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Operating costs: GBP653.7 million, -0.1%;
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Net profit: GBP11.7 million, +13.6%.
"The outlook for the Group remains encouraging. At Aviation, we are benefiting from our attention to customer service and from the resulting contract wins. In a fragmented market, we continue to develop opportunities for growth, both organic and acquisitive. The Board believes that further progress will be achieved in the second half of the year. Trading for the year remains consistent with expectations," Company Statement.
Meanwhile, the European Commission cleared private equity firm, 3i Group PLC, to purchase Belgian airport services provider, Aviapartner. Aviapartner provides aviation services at 32 airports in six European countries.
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