BBC: John Menzies Issues Profit Warning

Nov. 24, 2015
The Scottish ground handling firm has informed investors that 2015 profits may miss projections by as much as £2 million.

BBC News is reporting that John Menzies PLC has issued a profits warning and alerted investors that the company has had to revise their profit outlook for 2015 due to issues surrounding John Menzies' contract with London Gatwick Airport.

"I am disappointed that contractual issues at London Gatwick have led us to revise our aviation outlook for this year, albeit largely offset with strong progress in our distribution business," Jeremy Stafford, John Menzies' CEO says. "The group remains well placed to drive earnings."

According to the BBC report: "Menzies said rectifying "operational issues" at the airport would cost an extra £6m in the second half of 2015. It warned full-year profits could be £2m lower than previously forecast."

You can read the rest of the report at the BBC website.