Headline profit before tax £51.6m up £19.9m
Headline earnings per share 62.8p up 24.9p
Total dividend 18.1p up 5.8%

Continuing operations

Turnover £1,189.6m up 9.0%
Operating profits £30.4m up 8.2%

Discontinued operations

Operating profit £21.2m up £15.0m
FRS3 profit before tax £15.1m vs £33.3m
FRS3 earnings per share 2.7p vs 48.0p

 

Highlights:

Menzies Aviation Group transformed into a global ground handing business

£73.8m acquisition of Ogden Ground Services successfully integrated

Another good performance from Menzies Distribution

Early Learning Centre now in profit

Profitable and well managed exit from THE Games

 

David Mackay, Chief Executive, said:

"Both of our core businesses are major players in their markets.

"Menzies Distribution had a good year in difficult market conditions and considerable industry turmoil. The Frontline renewal has further strengthened our contract security, with the majority of our key suppliers having periods remaining in contract of between two and six years.

The purchase of Ogden Ground Services in November 2000 was a significant step forward in our strategy for developing our aviation business. With the integration process successfully completed, we are seeking further opportunities to expand in this growing market.

After another year of very good results and further repositioning we ended the financial year with a strong balance sheet which allows substantial scope for future growth. From these strong foundations I am confident that we shall successfully implement our strategy and deliver results."