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Annual Results

John Menzies lifts FY profit, assisted by forex rates

08 March 2017 09:48

John Menzies Plc has improved its FY pretax profit and hiked its dividend in what it said was a transformational year with earnings assisted by favourable exchange rates.

Pretax profit was £19.8m, from £18.2m. Dividend per share was 18.5p, from 16.8p.

"At Menzies Aviation, underlying profits were significantly ahead of last year at constant currency and have been strengthened through favourable foreign exchange translation," said chairman Dermot Smurfit in a statement.

"At Menzies Distribution, keeping profits broadly flat was a commendable performance in light of increasing cost pressures.

"We successfully completed the acquisition of ASIG on 1 February 2017 and this brings with it exciting new product lines that provide us with great opportunities to strengthen our business and to expand our product offering across our network," said Smurfit.

"As we look forward, our group structure review continues and I look forward to updating shareholders at the latest in our Interim Results announcement."

Menzies said its results followed a transformational year, with favourable forex rates further enhancing earnings.

At 9:48am: (LON:MNZS) Menzies John PLC share price was -4p at 579p

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