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John Menzies' profit dips on falling print publications demand
March 4, 2014 / 7:35 AM / 4 years ago

John Menzies' profit dips on falling print publications demand

March 4 (Reuters) - John Menzies said full-year profit fell about 3 percent as dwindling demand for newspapers and magazines in the UK continued to hurt its larger distribution unit.

The company, whose interests are split between a publication distribution service and aviation services, said underlying pretax profit fell to 53.1 million pounds ($88.8 million) for the full-year ended Dec. 31 from 54.5 million pounds a year earlier.

Revenue rose marginally to 2 billion pounds.

Shares in the company, which distributes the Financial Times and the Independent in the UK, closed at 660 pence on London Stock Exchange on Monday.

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