FTSE Small Cap (SMX)

5,165.15
   
  • Change Today:
      11.33
  • 52 Week High: 6,066.18
  • 52 Week Low: 3,637.83

John Menzies makes 'good progress' despite tough trading environment

By Iain Gilbert

Date: Thursday 28 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Aviation services firm John Menzies continued to make "good progress" despite a "difficult" trading environment continuing throughout the year-to-date.
John Menzies said it had put itself back on the front foot with "excellent customer engagement", which it noted was now being evidenced with the majority of substantial contracts due during the year being renewed.

The London-listed group added that significant new contract wins and a full pipeline of opportunities also gave it confidence that its turnaround programme was working as planned.

John Menzies also noted that under-performing operations were being addressed and progress was being made through increased productivity and a focus on sustainable margins, while a cost reduction programme that was expected to deliver at least £10.0m of savings had also been implemented - with benefits delivered during the current year and into 2020.

Net debt continued to track as planned.

Looking ahead, after allowing for foreign exchange movements, the group said that trading remained broadly in line with full-year expectations.

Chief executive Giles Wilson said: "This year has been about building for the future and I am confident that we have the team in place to drive the business forward.

"The improvements in our operational delivery, commercial activities and customer engagement have been key and I look forward to seeing the benefits of this come through as we progress."

As of 1540 GMT, John Menzies shares were up 5.37% at 432p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Price Data

Price 5,165.15
Change Today 11.33
% Change 0.22 %
18-Sep-20 Close 5,165.15

Top Risers

Price Change
DFS 180.40p +9.5%
CMCX 362.50p +8.7%
RIV 175.00p +8.0%
PHAR 12.80p +7.6%
KKVL 20.30p +7.3%
SAGA 13.54p +7.1%
DIA 310.00p +6.9%
CCPG 96.40p +6.6%
MARS 46.56p +6.2%
LUCE 220.00p +5.8%

Top Fallers

Price Change
TTG 185.00p -12.7%
AMGO 10.66p -11.9%
MTRO 78.36p -9.6%
TLW 16.92p -8.2%
NRR 46.05p -7.9%
SUPP 27.25p -7.6%
HWG 88.00p -7.4%
HSW 58.40p -7.3%
SDRY 151.90p -6.2%
STVG 244.00p -6.2%

Top of Page