Regulatory Announcements
23 January 2000
£16.1m up £11.8m
Headline earnings per share
19.0p up 15.4p
Exceptional items
£(23.9)m
FRS3 Earnings per share
(19.0)p
Interim dividend
5.5p up 10.0%
David Mackay, Chief Executive of John Menzies plc, said:
"John Menzies Wholesale delivered a fine performance despite market turmoil and the diversion of management effort caused by WH Smith's inappropriate plans for radical changes to the magazine supply chain which have now been abandoned. The Board is very pleased that these issues have now been resolved satisfactorily, and management will now focus fully on further development and improvements to the UK's news distribution system.
"THE Games' results were outstanding, and the timing of our exit from this business, at the end of February 2001, has allowed us to maximise its profits at the peak of the Pokémon phenomenon.
"The acquisition of Ogden Ground Services on 20thNovember, after the end of this period, has transformed Menzies Aviation Group into a major international player in a sector experiencing consistent growth. Our integration planning and preparation has enabled us to establish effective management control immediately following completion.
"As ever, there are substantial challenges and opportunities ahead. I believe that the team has a firm grasp of the issues to be tackled. We are confident in our strategy and ability to deliver results."
Back to top
Interim Results For 26 weeks to 4th November 2000
Headline profit before tax£16.1m up £11.8m
Headline earnings per share
19.0p up 15.4p
Exceptional items
£(23.9)m
FRS3 Earnings per share
(19.0)p
Interim dividend
5.5p up 10.0%
David Mackay, Chief Executive of John Menzies plc, said:
"John Menzies Wholesale delivered a fine performance despite market turmoil and the diversion of management effort caused by WH Smith's inappropriate plans for radical changes to the magazine supply chain which have now been abandoned. The Board is very pleased that these issues have now been resolved satisfactorily, and management will now focus fully on further development and improvements to the UK's news distribution system.
"THE Games' results were outstanding, and the timing of our exit from this business, at the end of February 2001, has allowed us to maximise its profits at the peak of the Pokémon phenomenon.
"The acquisition of Ogden Ground Services on 20thNovember, after the end of this period, has transformed Menzies Aviation Group into a major international player in a sector experiencing consistent growth. Our integration planning and preparation has enabled us to establish effective management control immediately following completion.
"As ever, there are substantial challenges and opportunities ahead. I believe that the team has a firm grasp of the issues to be tackled. We are confident in our strategy and ability to deliver results."
This service is brought to you in co-operation with Hugin Online.
Back to top