John Menzies (MNZS) hasn’t had the smoothest take-off to life as a pure-play aviation services business. With a profit warning in July sending its shares nosediving to a 52-week low, the group swung to a £4.4m statutory pre-tax loss in the first half of 2019. This came amid weak volumes in its cargo handling business, airlines trimming their flight schedules and the loss of exclusive licences in 2018.
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