StockMarketWire.com - Aviation services group John Menzies booked a first-half loss, citing a loss of business in the second half, weak cargo volumes and the grounding of Boeing's 737 Max aircraft.

Net losses for the six months through June amounted to £2.7m, compared to a loss of £8.0m on-year.

On a continuing operations basis, pre-tax losses amounted to £4.4m, compared to losses of £2.8m on-year.

Revenue rose to £649.9m, up from £627.2m, while underlying profit fell to £17.9m, down from £20.9m.

'The first half result was impacted by the loss of exclusive licences in the second half of last year and generally weaker markets,' chief executive Giles Wilson said.

'To address this we have taken a number of decisive actions that we expect will improve the second half and underpin our growth ambitions in 2020.'



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