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

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More