John Menzies Plc says core distribution sales down so far in 2013

Fri May 17, 2013 2:56am EDT

May 17 (Reuters) - John Menzies Plc said trading in its core newspaper distribution business for the first four months of 2013 was slower than last year, hurt by lower demand for weekly magazines and discontinued titles.

The 180-year-old Edinburgh-based company, which also provides airport services, said it did not expect to see an improvement in its distribution business -- which contributed about 68 percent to revenue in 2012 -- for the rest of the year.

"Sales in the magazine market have been poor with weekly titles particularly affected by declining volumes and title closures," the company said in a statement, adding that the business, which supplies magazines and newspapers across the UK, would not benefit from major events such as the Queen's Diamond Jubilee and the Olympics that took place last year.

Trading was stronger than the previous year in the aviation business, which provides ticketing, cargo, baggage and check-in services at 131 airports. Sales at the division's largest ground handling business were up 10 percent.

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