As we said in March, after a turbulent 2015 both in terms of Aviation operations and management change, Menzies needs a period of stability. This week, the Chairman Iain Napier announced his retirement but today’s update is encouraging in terms of some operational stability. Risks remain in terms of rediscovering Aviation’s operational excellence and offsetting cost headwinds in Distribution, but essentially we feel that value can be created if the ship is steadied. We increase our price target ....
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Trading in line
- Published:
20 May 2016 -
Author:
Jon Lienard -
Pages:
3
As we said in March, after a turbulent 2015 both in terms of Aviation operations and management change, Menzies needs a period of stability. This week, the Chairman Iain Napier announced his retirement but today’s update is encouraging in terms of some operational stability. Risks remain in terms of rediscovering Aviation’s operational excellence and offsetting cost headwinds in Distribution, but essentially we feel that value can be created if the ship is steadied. We increase our price target ....