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MNZS Menzies(john) Plc

607.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Menzies(john) Plc LSE:MNZS London Ordinary Share GB0005790059 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 607.00 607.00 608.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Menzies(john) Share Discussion Threads

Showing 526 to 550 of 2900 messages
Chat Pages: Latest  32  31  30  29  28  27  26  25  24  23  22  21  Older
DateSubjectAuthorDiscuss
10/3/2015
18:56
The presentation is impressive, although it's a shame that they couldn't include the Q&A session.

This seems to me the right emphasis for the future - after the last few years of spectacular growth in Aviation and prompted by the Heathrow problems, time to take stock and put in place a bit more of a framework for further growth. I find the analysis of opportunity convincing and look forward to the successful implementation. In particular the scope for further significant wins in US outsourcing is exciting.

I am also pleased to see that after all the focus in recent years on renewing major contracts and driving efficiencies out of the Distribution business they are now looking to broaden the scope of that business as well.

In this context, reducing the dividend to provide cash for investment in growth, has my full support. I have long felt Menzies is a growth business (Aviation) funded by an efficient cash generating machine (Distribution), but not recognised as such by the market. It is a sign of Aviation's maturity and potential for further growth that it now needs more cash to grow than can be provided by Distribution with the previous dividend policy.

It will be all about delivery of course, but I can see exciting times ahead, once we get over the hump of 1H15, which sounds like it will be another poor half financially due to the knock-on impact of the 2H14 problems.

In my opinion. Do your own research.

1gw
10/3/2015
11:32
I have to say it's really frustrating that they're not webcasting today's presentation live. Hope we get the replay soon.

Edit [12:35pm] - spoke to Menzies & they say a recording should go up on the site soon.

1gw
10/3/2015
10:48
None of this is a great surprise in the light of the November announcement and personally I see a lot more to like than to dislike here. I expect the fall in share price to be very temporary and that the gradual increase seen the last few months will soon resume.
grahamite2
10/3/2015
09:16
You could be right - down over 5% so far. I guess it's the dividend cut that has upset people.

But I personally see these results as encouraging. They actually generated statutory earnings in 2H (£4.1m or 6.5p/share if I have the numbers right) despite the problems at Aviation. Aviation remained the bigger contributor for the year to both operating profit (£20m vs £16m for Distribution) and pre-exceptional op profit (£30m vs £24m for Distribution). Aviation grew revenue for the year.

So potentially 2014 was a setback but one that may be quickly recovered from if the "largely resolved" comment is correct.

I still see this company as one which has great potential to achieve a growth valuation on the Aviation side.

IMO, DYOR

1gw
10/3/2015
07:49
Was looking to buy,but having waited for results.With the Dividend cut,I will not now be buying.Should fall heavy today,would not be surprised to see a 10% drop IMHO
garycook
10/3/2015
07:41
Could have been a lot worse IMO.

Dividend down, which isn't good, but on the other hand this is partly because of growth opportunities "In addition in the Aviation division we are seeing considerable global opportunity...for both organic and acquisitive investment into the business".

Underlying eps at 49p/share is encouraging, although statutory eps have taken quite a hit to 23p/share.

Outlook is good I think. In Aviation "Operational matters are now largely resolved and new contracts have been secured..." and "Both operating divisions are delivering to plan"

So on balance evidence of a company with good growth potential going forward (aviation), but still valued IMO mainly as an efficiency story in a declining industry (print distribution). All depends how the presentation goes now.

IMO, DYOR.

1gw
09/3/2015
17:00
So, 2014 results and presentation to provide "further clarity of our strategic focus and operational delivery plans" tomorrow. Here's hoping...
1gw
06/3/2015
15:30
Bought some more this pm. I like the way it pushed through £4. No new information, but hoping for a positive surprise with the results.
1gw
05/3/2015
14:58
Do we need the 2 threads here?

Anyway, there was a huge day's trading a while ago (12th Feb). 6 million shares traded (10% of the company), most of them at £3.70. I thought it might have been Shroders exiting, but if that were the case there should have been a TR-1 and there hasn't been. However, the steady share price progress since then might mean an overhang of some sort has been cleared.

In terms of risk vs upside, I think it's all about your view on the aviation side, and in the short-term whether they will try any kitchen-sinking in the results next week given the new management. Personally I think this is unlikely now, given their last TU ("confident of meeting management expectations"). So I am hoping that when we see the results we will realise that the hit to aviation has not been as severe as the initial market reaction suggested. It seems to me the low oil price environment should be good for the distribution business and the aviation side, so I am hoping they can impress with their guidance for 2015.

The real upside for me is in a spin-off (or even sale) of the aviation side so that it can be valued as a growth business. However, given the profit warning and new management I think this is unlikely to be a serious prospect in the near term - I think they need to demonstrate that they have got over the recent problems and restored it to its previous impressive growth path before they can sensibly talk about letting it stand on its own feet.

IMO, DYOR.

1gw
05/3/2015
14:40
Bought a few yesterday at £4. Risky, perhaps - they've got to be or wouldn't be giving this yield - but are they any more risky than say United Utilities, which may face an unfriendly political landscape very soon?

At least these have a lot of potential upside to balance the risk.

grahamite2
18/2/2015
09:50
Odd. 6 million shares (approx. 10% of the company) traded on 12th Feb, but no TR-1 holdings notices yet.
1gw
12/2/2015
13:57
Some huge trades gone through today. Is that Schroders out or is something else going on?
1gw
10/2/2015
14:57
Shroders below 5%. Now 4.7%, 2.9m shares.

That means they've sold 2.6m shares since 19th Jan (the date they went below 10%, when they declared still holding 5.5m shares).

1gw
07/2/2015
10:01
Anyone holding the 9% prefs? Very difficult to find info on them.
andyj
06/2/2015
16:14
Nice little move for a Friday afternoon. Let's hope it sticks.
1gw
26/1/2015
18:53
May be of interest to others taking a look.
hastings
22/1/2015
10:17
Looking good
nw99
16/1/2015
17:02
Relief rally today given lack of further explicit profit warning? "trading has continued to be in line with our forecasts and the Board remains confident of meeting management expectations for the full year ended 31 December 2014".

Or excitement at "further clarity of our strategic focus and operational delivery plans" promised for 10th March?

In a sense, one of those maddening TUs where it would have been really helpful if they could have spelt out what management expectations currently are given the 5th Nov profit warning!

1gw
12/1/2015
15:32
Absolutely.
avatar333
12/1/2015
13:57
Hear, hear.

I genuinely believe there is a direct inverse link between the volume of posts and the quality of the stock in question.

golly blackwell
12/1/2015
13:54
Not a bad thing, I would suggest, grahamite2.
avatar333
12/1/2015
13:42
Still not ADVFN's most popular stock!
grahamite2
18/12/2014
07:30
I was trying to think through the impact of falling oil prices on mnzs. It should be directly positive for distribution shouldn't it (all those lorries on the move every night), but I couldn't find anything in the AR about fuel costs or hedging. And in that falling oil prices should boost air travel it ought also to be positive for the aviation side as well.
1gw
17/12/2014
14:15
Charts looking good
nw99
17/12/2014
14:14
Strong move up
nw99
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