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Primary Recommendations

John Menzies - Focus on short haul airline

June 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MNZS
  • Price:
  • 311.5p
John Menzies provides a range of essential airport services. These include groundhandling, such as managing passengers and luggage, as well as air cargo services and into-plane fuelling and it operates in 198 airports across 34 countries. It obviously had a  torrid year in 2020 as 70% of its revenue was linked to passenger aircraft and 30% was linked to cargo. Conditions got so tough that at the worst point in April and May, activity fell 75% but a presentation given to me by the company during the month shows that in Q4, things were back to 49% of pre-COVID-19 level, while in FY 2021 they expect to be back up to 63%.As I describe fully below, Menzies had already been restructuring its business before the pandemic hit, taking £10m ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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author

John Menzies plc is the holding company of Menzies Aviation plc, an aviation services business providing ground handling, cargo handling, cargo forwarding and into-plane fuelling, based in Edinburgh, Scotland.

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