Regulatory Announcements
11 August 2000
The disposal will lead to a pre-tax exceptional loss of some £14.0 million after costs and provisions but before goodwill of £12.5 million previously written off to reserves.
Following receipt, the proceeds will be placed on deposit pending future investment in the Group.
David Mackay, Chief Executive commented,
"The transaction removes, from the Group, a business which is non-core and this disposal further strengthens the repositioning of Menzies as a focused logistics services group."
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John Menzies plc disposes of THE
The division had net operating assets of £16.6 million as at 6th May 2000 and made an operating loss of £4.2 million in the year ended the same date.The disposal will lead to a pre-tax exceptional loss of some £14.0 million after costs and provisions but before goodwill of £12.5 million previously written off to reserves.
Following receipt, the proceeds will be placed on deposit pending future investment in the Group.
David Mackay, Chief Executive commented,
"The transaction removes, from the Group, a business which is non-core and this disposal further strengthens the repositioning of Menzies as a focused logistics services group."
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