John Menzies confident of meeting financial targets
ByThe Courier Reporter
On the right road: John Menzies said trading had been in line with forecasts.
Shares in Scottish logistics and distribution group John Menzies rose yesterday after it reported more stable trading conditions.
In an update to the market, the Edinburgh-headquartered group said trading had been in line with forecasts and it was confident of meeting its financial targets for the year to December 31, 2014.
The briefing was the first since the group issued a profits warning in November after its magazine and newspaper distribution arm suffered a downturn.
The firm said the operation had been impacted by a fall in ancillary income from sticker books and weaker-than-expected seasonal print sales.
Menzies yesterday said that it would present its preliminary results on March 5, at which point it would also “provide further clarity of our strategic focus and operational delivery plans”.
Shares in Menzies climbed more than 2% in morning trading.
They eventually closed the day up 3.24% or 11p at 351p.
John Menzies confident of meeting financial targets
