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Menzies Group shares hit 33-month high

Shares in ground handling and media distribution company Menzies gained 6% in trading on Friday, hitting a 33-month high. Shares in the company have gained 20% since it reported its 2010 results, which beat analysts expectations. Revenues improved 6% year-on-year to GBP1.96 billion, while pre-tax profits increased 70% GBP37.5 million, helped by the performance in its aviation division.

Expedia adopted a three-pronged strategy to become among the top five travel sites in India. While initially focusing on building back-end and inbound travellers since its launch two years ago, the company now plans to to position itself in the outbound and domestic travel market. It will invest USD5.6 million in marketing initiatives to support the plan.

Selected Others daily share price movements (% change): 26-Mar-2011