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'Commercially, the first six months of the year has been very strong and significantly ahead of last year.''
Trading Update 27th July 2021
Expect some big news...
yes you are wrong. They are in profit
Strong results in September???. Depends what you mean by strong results. Hopefully they will be better than last year but I don’t think the cargo/passenger traffic has not risen enough to start generating profit yet. Not expecting news of dividend just yet. Hope I’m wrong.
However, I think the future for Mnzs is very positive. Hopefully flight traffic will continue to increase and may well get back to pre COVID levels in about 12-18 months. I am very impressed that Mnzs continues to expand its foothold across the world, especially during this very trying COVID period. Back in 2018 the SP was over 700, it would not surprise me if we reached those levels again (perhaps even higher) but might have to wait until 2023 . I have £60k invested averaging at 186. I’m in for the long term and am happy to wait a year or two to see how the SP progresses.
Good luck to all.
AIMHO
Menzies Aviation expands MASIL joint venture with launch of passenger services at Baghdad International Airport
24/08/21
Menzies Aviation, the global aviation logistics specialist, today announces that it has expanded its joint venture with Iraqi Airways (“MASIL”) to offer passenger services at Baghdad International Airport.
MASIL has now assumed operational control of passenger service activities in the Nineveh terminal at Iraq’s largest airport as part of its commitment to the Joint Venture Partnership. As part of the 400 strong team already on the ground, 155 MASIL employees will provide passenger services to Iraq Airways. The partnership is already delivering a suite of ground handling services to customers including Emirates, Qatar Airways, Turkish Airlines, Royal Jordanian, Egypt Air, flydubai and Middle East Airlines.
As part of its long-term strategy for developing the airport’s services, MASIL will implement programmes to further enhance the skills of the local workforce to improve customer experience, safety and security standards, and ensure that operations in Baghdad remain in accordance with the global regulations approved by international aviation organizations. Menzies’ investment in these training programmes and provision of world-class equipment demonstrates its commitment to establishing Baghdad as a centre of excellence and bolstering the growth of the aviation sector in the Middle East.
I am expecting strong results 1st September...dividend 1st September????
Excellent news. Unfortunately negative news on global markets, Covid delta cases, tapering of fed asset purchases, decline in us market is not helping in short term. Need bit of patience
Menzies expands footprint with acquisition in Central America and contract momentum in Oceania
19/08/21
John Menzies plc (“Menzies”), the global aviation services business, is pleased to announce further expansion in Central America with the acquisition of Interexpresso and additional contract wins in the Oceania region.
Acquisition of Interexpresso
Menzies has agreed to acquire 51% of Interexpresso Costa Rica Corporación ILC, S.A. (“Interexpresso”) which will see Menzies’ footprint expand in Central America, an exciting growth market.
Interexpresso is an aviation service provider operating in Central America and headquartered in Costa Rica. Interexpresso’s core business relates to cargo handling and aviation security services, primarily consisting of cargo document handling, cargo security screening and aircraft access control. Interexpresso’s operations are based in San Jose, Costa Rica, with additional operations in Guatemala and El Salvador.
Menzies’ initial focus will be on developing and growing Interexpresso’s core cargo and security offerings across the region with the potential to expand into additional air cargo handling and ground handling services. The joint venture has added three new countries to Menzies’ portfolio, creating a strong foothold in Central America to develop its product lines across the region.
Further contract gain momentum in Oceania
In the Oceania region, we are delighted to have secured new business with Virgin Australia in Australia. From mid-October Menzies will provide ground services at Darwin, Cairns and Queenstown and will also provide air cargo services at Darwin.
These wins, following a competitive tender process, are in addition to existing business retained at Sydney, Melbourne, Kargoorlie, Perth, Brisbane, Cairns and Gold Coast airports and are testament to the excellent service levels provided in the region.
Overall, the contracts will see Menzies handle c8,000 flights and c6,500 tonnes of cargo per annum at a total of 10 locations for Virgin Australia.
These new contracts represent a significant expansion of Menzies’ operations in the Australian market and build on the recent wins with Qantas and Jetstar.
Philipp Joeinig, Chairman & CEO, said:“I am pleased to announce our expansion in the Central American region. We have found a knowledgeable partner in Interexpresso and, working together, we will be able to open doors in new, attractive, higher margin and emerging markets in the region.”
Consolidation is done for good... ; I expect good moves now onwards.. especially given easing of travel restrictions.
Menzies Aviation grows Middle East, Africa and Asia leadership team with three senior appointments
03/08/21
Menzies Aviation, the global aviation logistics specialist, today announces the appointment of three senior members to the Middle East, Africa and Asia (MEAA) team: John Henderson as Senior Vice President Operations MEAA, Gemma Sinclair as Vice President HR MEAA, and Kevin Constant as Vice President Operations ****stan. These appointments represent Menzies’ commitment to building its presence in the MEAA region as part of its emerging market growth strategy.
John Henderson will be joining as Senior Vice President Operations, bringing a wealth of operational knowledge and experience, having worked in aviation ground handling for almost 30 years, 11 of which have been with Menzies. Most recently he served as Senior Vice President UK and Ireland for Menzies. In his new role he will be focused on growing the business across the MEAA region and integrating Menzies’ new start-up operations in Iraq and ****stan. Starting in September, he will be based in the Dubai office.
In her new position of Vice President, Human Resources MEAA, Gemma Sinclair will bring 15 years of experience and invaluable insights from her global role at an oil trading company, as well as industry know-how from previously held positions at Emirates Group and dnata supporting their Engineering, Ground Handling and Passenger Services teams. Gemma will also be based in the Dubai office.
Finally, Kevin Constant will be joining Menzies as Vice President Operations, ****stan and will be based there from September. Kevin has over ten years’ industry experience, including in several senior management positions across airport relations and ground handling at Brussels Airlines, in Cameroon and Belgium. Most recently he worked as an independent consultant on projects in the aviation sector in ****stan, through which he has gained extensive market knowledge.
We've dropped from 350 to under 310 twice in the last 6 months, I wouldn't be surprised if it happened again.
As expected a slow and steady rise has started. I expect this to continue through the month now. I suppose we will never see 300-310 ever again !!!
Looks like this is just the start. Plenty of upside here.
More contracts won now than pre covid. These hit 6-7 quid a share in 2013, and then 2017. why didn't I buy at 90p!
Expecting new highs within a month as we approach results in Sept
Shore Capital analyst Robin Speakman said: “The aviation services specialist has provided an encouraging update on trading through its first half to end-June. The first-half performance is indicated to be back in profit against last year’s substantial [first-half] losses with momentum building.
“We hope and expect recovery in airline activity to begin to gain momentum through the [second-half] period on a like-for-like basis.
“We continue to assert that Menzies is poised to recover strongly from the pandemic as a leader in its aviation services specialisms.”
This is from https: //www.scotsman.com/business/edinburghs-john-menzies-flags-number-of-business-opportunities-as-pandemic-recovery-gathers-pace-3324742
Berenberg, which rates the shares at ‘buy’, said: "Clearly, this update supports our investment case - that Menzies is well positioned for the recovery of the global aviation market, has ample liquidity to trade through the crisis, and will even exit the crisis in a stronger position, aided by cost-saving actions and a portfolio shifting towards higher-margin emerging market and cargo earning streams.
"With a valuation of just 8.8x 2022 price-to-earnings, we consider this a highly attractive recovery play that continued to lag its airline peers."
At 1255 BST, the shares were up 1.6% at 324.69p
PS : This positive analyst report I have picked up from https ://www.sharecast.com/news/
Airline business can only grow from here
PEEL HUNT RAISES JOHN MENZIES PRICE TARGET TO 451.
still very low in my opinion, this stock will fly higher than pre pandemic levels when travel recovers
A good trading update,. Whilst nothing significantly new.
The upshot is
1. in spite of weaker Europe business , 'trading is ahead of expectations;' - So upshot is when Europe improves it will be even better !
2. US is going well... esp with addition of places like Miami
3. China could be bring in more business as we move forward
4. ****stan while not mentioned here could start adding a good value (remember the stake buy in Pak airport)
5 Air cargo - very strong update and will remain so.
6. Further deals could happen in H2.
I don't know how market will react in the very short term, for me this is an easy hold well into next year.
key bit of news today - Double-jabbed British expats 'will be able to return to the UK to visit family quarantine-free from August 1' under plans to finally recognise vaccines administered overseas in move which could also pave the way for return of travel to the US
Thanks! Yes I think the cases falling over last 5 days would have helped + travel increasing in the very near future.
My view is news that cases have been falling for over the last 5 days has contributed(the share price has started with that); Now there is a more of a talk of where next we can travel (which country ) or can there be an exception to quarantine as opposed to which country is going to be banned next. Bit of positive vibe on travel situation all around.
In terms of technical - 20 DMA is at 305 and 50 DMA at 318. So a close above 318 will be nice and is likely to attract technical traders too to push the share price up further.
sbbtwenty20 thanks for advice. Good timing from you.
Wonder what caused the SP to climb here today?
#DARK - It is well priced at this stage. Although if you compare to US peers (such as $CRWD) still bit undervalued if you do price/sales comparison. But imo Nasdaq is nearing a cliff edge. So from R/R it is a good hold for LT but would not suggest to enter fresh at the moment. Any Nasdaq correction will give opportunities to get into tech stocks.
Ironically, I trimmed (12%) of #DARK last week to add to MNZS. Worked alright.