At the Annual General Meeting of John Menzies plc today, William Thomson, Chairman, made the following statement:

 

 

"Trading at Group level remains in line with expectations.  Distribution is trading behind last year while Aviation is ahead.  Free cash flow continues to be healthy.

 

"Menzies Distribution is experiencing some weakness in partworks, although this is offset to some extent by increased revenues from newspapers and weekly magazines.

 

"The Office of Fair Trading is expected to issue shortly a draft advisory opinion for consultation on the distribution arrangements for newspapers and magazines.  We look forward to this further opportunity for consultation.  We aim to remain the service provider of choice for publisher and retailer alike.

 

"Menzies Aviation continues to benefit from volume growth and greater market stability, and has started the year positively."

 

 

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1. John Menzies plc, the time-critical logistics company, is one of Scotland's largest companies. The Company has two operating divisions, Menzies Distribution and Menzies Aviation. These divisions operate in two distinct sectors where success depends on providing an efficient, high quality, time-critical service to their customers and partners.

 

2. In the year ended 25 December 2004, Menzies reported turnover of £1,330.6m (2003 - £1260.3m) and Group profit on ordinary activities before tax and exceptionals of £30.3m (2003 - £17.1m). Turnover at the Distribution division was £1,109.4m (2003 - £1,058.0m) whilst pre-exceptional operating profit was £30.6m (2003 - £26.2m).  In the Aviation division turnover was £259.8m (2003 - £239.7m) and pre-exceptional operating profit was £10.4m against £2.4m in 2003.

 

3. The Company was established in 1833 and its head office is in Edinburgh, Scotland. Today the Company is an international operation with offices, partners and contracts located in Europe, North and South America, Australasia and Africa.

 

4. Menzies Distribution is a leading provider of added value distribution and marketing services to the newspaper and magazine supply chain in the UK. The division handles over 3,000 magazine titles and 4 million newspapers each day (5 million on Sundays) which are delivered to more than 21,200 customers.

 

5. Menzies Aviation is one of the world's major independent suppliers of ground handling services to the aviation market providing passenger, ramp and cargo services for many of the world's leading airlines and some of the busiest international airports. The division employs over 9,300 people across the globe, at 92 airports in 23 countries servicing in excess of 500 aviation customers.

 

 

6. Further information on John Menzies plc can be found at: www.johnmenziesplc.com; www.menziesdistribution.com; and www.menziesaviation.com.