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Menzies (John) - Soon to be prospective PE of 8.0

October 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:
  • 309p
Menzies has had its forecasts upgraded twice in as many months -   the prospective PE is ridiculously low against a backdrop of international flights in Q3 showing recovery with the travel outlook improving on a daily basis. It has also been an exceptional period for new contracts, with annual net wins of £45m in H1.Despite the impact of the pandemic, this month’s H1 shows that while revenues were flat at £416m (-1% in constant currency), there was a material turnaround from a £39m loss to a £22m profit with the improvement equally split between government support schemes and management’s permanent cost-saving actions. Excluding the government schemes, there was a £30m improvement ...

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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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