John Menzies trading update: expects positive trading performance

Source: Supply Chain Digital

Date :19/12/2007 13:51:08

The time-critical logistics company expects full-year performance to be in line with forecasts despite foreign exchange pressure, particularly from the weak US dollar and soft cargo volumes.

Menzies Aviation continues to perform well, winning new contracts, securing new licenses and expanding organically and through acquisition, the company said.

The division remains ‘well placed’ to deliver substantial growth in the current year, the group said.

2008 confidence

Similarly, Menzies Distribution had continued to rationalise its operating model. Cost initiatives also remain on track and new revenue streams continued to make progress, the company reported.

In its outlook, the group said: “The Group has stabilised Menzies Distribution and continues to rapidly grow Menzies Aviation, and the Board looks forward to 2008 with confidence.”

Full year results for the year ending on 29, December 2007 will be announced on March 11, 2008.

December 19, 2007