menzies announce 20 million profit?yeah thanks for smelly TAXED lump sum ya bunch of lying ***** in the offices using ash cloud as reason for no payrise!!!
John Menzies' aviation arm overcomes ash cloud crisis to double profits
Aug 20 2010 By Graeme Evans
JOHN MENZIES' aviation arm overcame the disruption from the Icelandic volcano and doubled profits to £9.1million.
The Edinburgh group, who also run a newspaper and magazine distribution business, benefited from a turnaround in cargo volumes and a sizeable number of contract wins in ground handling.
Group-wide profits for the six months to June 30 were up by 46 per cent on an underlying basis at £19.3million.
Menzies said they were on course to exceed current market expectations for the full year.
Their aviation division won 56 contracts and lost 16 in the first half but suffered a £2.5million hit from the volcanic ash cloud in April.
The company said: "It is testament to the flexibility and spirit of our employees that the size of the loss was not bigger. The majority of staff either took holidays or accepted flexible working conditions during what was an unprecedented period for the industry."
The division serves more than 500 airline customers at 112 locations in 27 countries, including South Africa where the company handled some 250 extra charter flights during the World Cup.
The tournament had a positive impact on Menzies Distribution, where profits rose seven per cent to £14.5million.