Menzies Group trades strongly on 2010 results, HEACO reports modest improvement

Aviation and newspaper distribution group John Menzies shares rose 7.7% in trading on Tuesday, as the company reported strong 2010 results. Overall revenue rose 6% year-on-year, to GBP1.96 billion. Underlying profit rose 28% to GBP45.0 million, while pre-tax profits increased from GBP22 million to GBP37.5 million, an increase of 70%. The company reported a better performance in its aviation division, with profits up 56% to GBP24.6 million.

Hong Kong Aircraft Engineering reported the following financial highlights for the 12 months ended 31-Dec-2010:

  • Revenue: USD547.7 million, +5.5% year-on-year;
    • HAECO: USD380.8 million, +8%;
    • TAECO: USD151.1 million, -7%;
  • Operating profit: USD49.9 million, +2.4%;
  • Net profit: USD90.0 million, +1.9%.

HAECO shares finished the day 0.5% higher. The company stated the prospects for the group in 2011 remain mixed.

Selected Others daily share price movements (% change): 08-Mar-2011