John Menzies increases its 2014 interim dividend by 5%

DividendMax Ltd.

John Menzies increases its 2014 interim dividend by 5%


Momentum continues across the Group

Group Turnover up 3%, Aviation 7%

Strong operating cash flow at £29.0m (H1 2013: £24.6m)

Dividend increased by 5% to 8.1p (H1 2013: 7.7p)

Aviation continues to progress against its objectives

Underlying operating profit up 7%, excluding start-up costs

Strong contract wins and renewals during the period helps grow market share

Entry into new markets provides platforms for future growth

Cargo handling continues to deliver improved performance

Start-up costs to support contract wins impact first half results

Short term operational challenges in the UK

Positive first half in Distribution boosted by collectible sales

Iain Napier, Chairman said:

"The Group continues to progress despite challenges faced in Aviation in terms of continued airline pricing pressure and operational issues within our UK ground handling business. Notwithstanding these, we have enjoyed a very strong contract win season and Aviation remains well placed to continue to grow in a market with positive growth dynamics. Distribution has had a good first half and we look forward to seeing the benefits of our rationalisation programme which will conclude at the end of 2015. Overall, I am pleased that the Group continues on a strong financial footing with excellent prospects."

Companies mentioned