JOHN Menzies saw profits from its aviation division overtake the media distribution business for the first time, as newspaper and magazine volumes continued to decline in the first half of the year.
A return of cargo-handling volumes to “pre-recession levels” and scores of new contracts for ground services helped drive turnover at the global aviation arm by more than 10 per cent, the company said yesterday.
Overall pre-tax profits rose to £21.4m from £20.6m over the same period the previous year on revenues that rose to £941.9m from £924m.
But a five per cent drop in magazine sales (and a decline in newspaper sales) in the group’s distribution division meant group sales were just two per cent higher in the six months to the end of June.
“We will continue to expand Menzies Aviation by leveraging existing customer relationships to win more contracts”, the company said.