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John Menzies Expects Coronavirus Outbreak To Hurt Annual Profit

Thu, 27th Feb 2020 11:59

(Alliance News) - John Menzies PLC on Thursday said it expects the coronavirus outbreak to hurt profit for 2020.

The aviation services firm said it expects the virus to reduce profit to the tune of around GBP6 million to GBP9 million on the assumption that the impact of the virus subsides toward the end of the second quarter.

For 2018, John Menzies posted pretax profit of GBP21.6 million on revenue of GBP1.29 billion. Results for 2019 will be published on March 10.

The Edinburgh, Scotland-based company said the virus has had the most impact on its operations in Macau and where it handles Chinese air carriers across its network. It added that as the situation is still evolving, it has found it difficult to assess the full extent of the impact.

Separately, John Menzies said it has extended its GBP325 million lending facility until 2025.

The stock was trading 3.9% lower at 341.50 pence each on Thursday morning in London.

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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23 Dec 2022 12:40

Heathrow strike off as Menzies workers win improved pay offer

(Sharecast News) - Heathrow ground handling staff employed by Menzies have accepted an improved pay deal, ending the threat of strike action at the airport, the Unite union said on Friday.

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4 Aug 2022 13:12

Kuwait's Agility finalises acquisition of UK aviation services group John Menzies

DUBAI, Aug 4 (Reuters) - Kuwait's Agility, one of the largest Gulf logistics companies, said on Thursday it has finalised its 763 million-pound ($924.37 million) acquisition of British aviation services company John Menzies.

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2 Aug 2022 18:15

IN BRIEF: John Menzies takeover by Agility Public given court sanction

John Menzies PLC - Edinburgh-based aviation services and cargo handling - Company's takeover by GIL International Holdings V Ltd, a subsidiary of Kuwait's Agility Public Warehousing Co KSCP is granted Court sanction.

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19 Jul 2022 15:52

UK earnings, trading statements calendar - next 7 days

Wednesday 20 July 
Abcam PLCTrading Statement
Alliance Pharma PLCTrading Statement
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Centamin PLCQ2 Production Results
Centaur Media PLCHalf Year Results
Costain Group PLCTrading Statement
Hochschild Mining PLCTrading Statement
PayPoint PLCQ1 Results
Petropavlovsk PLCTrading Statement
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Royal Mail PLCQ1 Results
Thursday 21 July  
AJ Bell PLCQ3 Results
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Brewin Dolphin Holdings PLCTrading Statement
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Close Brothers Group PLCTrading Statement
Diploma PLCQ3 Results
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SSE PLCQ1 Results
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Friday 22 July  
Beazley PLCHalf Year Results
FRP Advisory Group PLCFull Year Results
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F&C Investment Trust PLCHalf Year Results
GlobalData PLCHalf Year Results
JTC PLCTrading Statement
Plant Health Care PLCTrading Statement
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Compass Group PLCTrading Statement
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John Menzies PLCTrading Statement
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Copyright 2022 Alliance News Limited. All Rights Reserved.

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11 Jul 2022 05:50

UK government inaction contributed to airports crisis – industry boss

(Alliance News) - Inaction from Rishi Sunak and Grant Shapps contributed to the "predictable" and "preventable" delays and cancellations that have crippled airports across the UK, the boss of a leading airline services company has said.

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30 Mar 2022 16:06

LONDON MARKET CLOSE: FTSE 100 keeps head above water on oil strength

(Alliance News) - The FTSE 100 was able to outperform European peers on Wednesday - a reversal from Tuesday - as the commodity-heavy index was getting a lift from oil companies and miners.

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30 Mar 2022 12:09

SMALL-CAP WINNERS & LOSERS: John Menzies up on takeover - CORRECT

(Correcting offer price to 608 pence per share.)

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30 Mar 2022 12:06

CORRECT: Initially reluctant, John Menzies accepts Kuwaiti takeover

(Correcting offer price to 608 pence per share.)

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30 Mar 2022 11:08

LONDON MARKET MIDDAY: Nervy trade amid peace doubts and US yields

(Alliance News) - Blue-chip equities in Europe traded lower midday Wednesday, with markets made uneasy by recent developments in US bond markets and amid doubts about Russia's announcement of a de-escalation of its assault on Ukraine.

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30 Mar 2022 09:30

SMALL-CAP WINNERS & LOSERS: John Menzies up on takeover; Esken falls

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

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30 Mar 2022 08:54

TOP NEWS: Initially reluctant, John Menzies accepts Kuwaiti takeover

(Alliance News) - John Menzies PLC on Wednesday said it has accepted a final offer from GIL International Holdings V Ltd, a subsidiary of Kuwait's Agility Public Warehousing Co KSCP.

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30 Mar 2022 07:51

LONDON MARKET OPEN: FTSE 100 defies European slump on oil major boost

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30 Mar 2022 07:32

LONDON BRIEFING: John Menzies finally accepts Kuwaiti takeover offer

(Alliance News) - John Menzies on Wednesday said it has accepted an offer from GIL International Holdings V, a subsidiary of Kuwait's Agility Public Warehousing Co.

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30 Mar 2022 06:58

LONDON MARKET PRE-OPEN: John Menzies backs GBP571 million takeover bid

(Alliance News) - Stock prices in London are seen opening flat on Wednesday, as optimism following Russia's pledge to de-escalate in parts of Ukraine was met with scepticism by the West.

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8 Mar 2022 14:31

John Menzies swings to profit, gives Agility more time for firm offer

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