John Menzies soars after upbeat trading statement

SHARES in newspaper distributor and aviation services group John Menzies jumped 7.9 per cent to 545p yesterday after the company said it was set to exceed expectations thanks to a strong start to the financial year.

John Menzies’ aviation division, which provides services such as checking passengers and baggage on to planes and cargo management, said it was enjoying “increased contract win momentum and generally positive trading”, the company said.

The newspaper arm, Menzies Distribution, “continues to operate in challenging markets but management’s proven track record of innovating and delivering cost savings continues to keep the division on track”.

Edinburgh-based John Menzies was founded in 1833 and is one of Scotland’s biggest companies. It used to be best known as the operator of a large chain of newsagents.