John Menzies continues to trade in line
John Menzies posted a trading update for the year to 31 December on Thursday, reporting that since the previous update on 23 November, trading across the group continued to meet the board's expectations.
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The London-listed firm said that its Menzies Aviation division continued to trade well, supported by continuing contract win and renewal momentum across the network and particularly at London Gatwick, following the withdrawal of a competitor from the UK market.
It said the acquisition of ASIG continued to progress to plan.
“We are in advanced discussions with the Competition and Markets Authority, and we expect to be able to complete the deal in the coming weeks,” the Menzies board said in a statement.
“A further announcement will be made when appropriate.”
At Menzies Distribution, the firm’s new management team is in place, with Greg Michael having started on 1 January as previously announced.
Trading there was in line with our expectations.
“Overall, the group is continuing to make progress with its strategic objectives and is well placed to deliver further earnings growth during 2017.”
John Menzies will announce its final results for the year ended 31 December, on 8 March.