StockMarketWire.com - Aviation services group John Menzies said it was on track to meet its expectations for the full year. Trading across the group had improved as it moved towards the summer season, with good visibility on summer schedules and a positive start to the year renewing key contracts, the company said.

Cargo volumes, however had a poor start to the year and whilst the company had seen some improvement they continud to track behind last year.

John Menzies also said that it had commenced an efficiency improvement programme, expected to reduce its ongoing cost base by over £10m across both central and regional operations.

The process to appoint a new chief executive was progressing as planned, with a conclusion of the process expected in early July.

'I am pleased to report we are on track to meet our expectations,' interim CEO Giles Wilson said.

'We have started the year well commercially with key contracts renewed and new contracts won and our recently launched efficiency programme is progressing well and benefits are being delivered.'

'We have a strong and experienced team in place and I am confident that by continuing to deploy leading edge systems and processes that we will deliver our customers needs and sustainably grow our business.'


At 9:38am: [LON:MNZS] Menzies John PLC share price was +2.25p at 474.75p



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