John Menzies lifts full-year forecast

John Menzies Group Chairman, William Thomson, announced that the Menzies Group has made a positive start to the year and the Board now expects the full-year result to be ahead of market forecasts. Menzies Aviation is benefiting from its geographical spread, a focus on regional densities and significant cost reductions made last year. This has allowed the business to make progress despite significant issues such as volcanic ash, which has affected ground handling operations across Europe. The portfolio outside Europe is trading well. Cargo volumes continue to be up above 20%, albeit against very weak comparators, resulting in an improvement in management expectations. [more]