John Menzies, the airport services and newspaper distribution group, has issued a profit warning because of problems in its aviation operations. The boss of the division is to leave the company immediately.
The news sent shares in Edinburgh-based company – and one of the largest in Scotland – plunging 20pc.
John Menzies said that full-year results will be "materially below" management expectations because of issues in Menzies Aviation, which provides passenger, ramp and cargo handling services at airports around the world. The company also said that Craig Smyth, managing director of Menzies Aviation, will "leave the board with immediate effect". The company said in August that Mr Smyth had resigned but would "continue in his current role and fulfil all of his contractual obligations."
More details here.