Menzies 1H2009 revenue down 0.6%

John Menzies Plc revenue down 0.6% - financial highlights for the six months ended 30-Jun-2009:

• Revenue: GBP821.3 million, -0.6% year-on-year;
  • Aviation: GBP248.1 million, +3.7%;
• Underlying operating profit: GBP17.1 million, +21.3%;
  • Aviation: GBP4.0 million, -2.4%;
• Profit before tax: GBP7.4 million, -34.5%. [more]

Menzies: "Menzies Aviation continues to trade in line with our expectations although airline schedules in quarter four are not yet certain. Cargo volumes remain very low but appear to have stabilised. Ground handling continues to perform robustly with cost savings and contract wins offsetting volume reductions. Overall, it is still expected that the division will deliver full year underlying operating profits in line with our expectations," Company statement. Source: Menzies, 19-Aug-2009.