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 Shares Traded Last Trade
  0.80 0.68% 117.80 209,300 16:35:17
Bid Price Offer Price High Price Low Price Open Price
112.00 113.00 117.40 111.40 115.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 1,325.60 17.30 12.80 9.2 99
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:17 UT 40,858 117.80 GBX

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Date Time Title Posts
07/8/202017:54John Menzies1,100
04/5/200710:45Menzies - Cheap aviation assets, cheap company8
25/10/200616:08Menzies -a good investment4

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Menzies(john) Daily Update: Menzies(john) Plc is listed in the Support Services sector of the London Stock Exchange with ticker MNZS. The last closing price for Menzies(john) was 117p.
Menzies(john) Plc has a 4 week average price of 101.60p and a 12 week average price of 99p.
The 1 year high share price is 489.50p while the 1 year low share price is currently 66.90p.
There are currently 84,309,322 shares in issue and the average daily traded volume is 400,193 shares. The market capitalisation of Menzies(john) Plc is £99,316,381.32.
haywards26: There needs to be objective discussions and all angles discussed..not just one side promoting guaranteed share price multiples..
haywards26: A lot of novice investors will jump on here read all of the ramptastic share price and EBITDA figures and think the share price is going to double in days....
haywards26: Interest bearing loans/borrowings are £482m. Made up of bank £306m (up from £279.2m prior year) and £175m of lease liabilities. Even excluding lease liabilities (although interest bearing) the gearing is high at 350%. High gearing in normal times is dangerous, let alone crisis and businesses going through stress. Finance costs alone were £22.3m last year. If banking covenants are triggered, interest charges on debt usually increase as the business risk rating increases. There is a reason the share price is around current levels...there are significant risks, investors denying this have their rose tinted glasses on.
fuji99: I believe the bottom or the worse situation is now over. Everything is factored in its share price. So as airports start progressively activity, MNZS business will grow along the recovery. So from here I can only see NZS going forward from strength to strength, quarter by quarter. I only hope Swissport will not take it over.
fuji99: I would add that if it flags up any business activity improvement, the share price will fly from here. We saw it happened with many other stocks (DLAR, BNZL etc.).
tole: Well I am long here. Holding quite a few. Just thoughts over the current position. Although I am not adverse to them shoring up the balance sheet a little if it puts the market at ease a little over its debt. If anything it might well put a rocket under the share price if favourable.
rastamouse: Most of the airline and other business have approached the Government for financial assistance. MNZS is not unique in this situation. point being that all these businesses will recover (with government assistance).These prices are at historic lows, and from this level any recovery is a minimum double of the share price from here.I have a target price of 3.55.AIMHO
montynj: All looking good...this is a coiled spring about to explode upwards...stake building also occurring plus the potential of a bidding war for the company yet share price only 125p vs 450p a few months ago
buffettjnr: The fact is this: it was near 500p prior to lockdown. The business was closed down and the share price reflected it. As the business re-opens it makes sense that the share price will recover. Perhaps not to where it was, but if the business recovers by 60-80%, it should be reflected in the share price...can easily make a case for 300p...350p. And then a bit of good news might turbocharge it.
gordongekko4: John Menzies needs private owner to make most of aviation-services consolidation – shareholders 14 August 2019 | 16:20 UTC * Swissport and WFS owner Cerberus possible suitors * Shareholders suggest acceptable sale price near 750p/share * Management “frustrated221; with performance, shareholder says ________________________________ John Menzies [LON:MNZS] could be an aviation-services sector consolidator but may need a new private owner if is to continue to grow by acquisition, with possible backers including Swissport and Cerberus Capital Management, according to two investors interviewed by this news service. The company would be more able to pursue a growth strategy if taken private since it would need to increase its leverage to a level typically unacceptable to public market investors, the first shareholder, and a second, who is a minority investor, said. Now is the right time for John Menzies to look for a buyer, the first shareholder said. The shareholder sentiment echoes the views of activist investor Sterling Strategic Value, which told this news service in June that the company should consider integrating into a larger group. The rumour of a sale of the business has been around for years and is possible, a sector banker commented. Activist funds including Lakestreet Capital, Kabouter Management and Shareholder Value Management have successfully pushed the company to separate its distribution business, which it sold last year. Investors have been disappointed by management’s progress with John Menzies’s aviation business since it was split from the distribution business, the first and second shareholders said. Some of the company’s headwinds have been beyond management’s control, the second shareholder said; these include the downturn in global trade volumes, as cargo services make up around 25% of the company’s revenues. Other issues, such as the company’s anaemic growth rate in the UK and the fleeting tenure of Forsyth Black as chief executive, have been its own fault, he said. John Menzies is “not a dog’s breakfast” and can improve performance, said a third shareholder, who is a minority investor. If the company fails to perform better within 12 months, it will be vulnerable to a takeover, the second shareholder said. Valuation and potential suitors An offer just above 9x EV/EBITDA would be welcome, this shareholder said. Peers such as Swissport and Worldwide Flight Services (WFS) were acquired at between 9x and 14x EV/EBITDA, he noted, adding that he would not expect to realise a price at the top of this range. At 9x EV/EBITDA, John Menzies would be valued at 717p/share, and at 10x it would be valued at 826p/share, according to analytics by this news service. Any acquirer would need to offer 750p/share, the first and third shareholders agreed. However, John Menzies’s recent operational issues mean the market may not yet be right for an offer at that price, the first shareholder said. The third shareholder said he has yet to decide whether to support the push for a sale, but would tender for an offer above that price. Any offer “has to be a wow”, he said. John Menzies' current EV/EBITDA multiple is 6.4x, or 6.1x prior to a c. 7% up-tick in the stock’s value on 14 August after the company reported its interim results. HNA bought Swissport at a 0.9x EV/sales multiple, and Cerberus bought WFS last year at 1x EV/sales, according to an analysis by this news service. John Menzies’s current EV/sales multiple was 0.4x prior to the 14 August share-price jolt. WFS is one of the largest cargo players with a smaller amount of ground handling, while John Menzies is mostly ground handling with some cargo, so “they are a perfect fit,'' the first shareholder said. In a weak market, ground handling is more resilient than cargo, which makes the combination a good option for WFS and Cerberus, this investor added. After Cerberus bought WFS for EUR 1.2bn, Cerberus and Brookfield subsequently attempted to buy HNA Group-owned Swissport, but the sale stalled as HNA looked to refinance its subsidiary’s debt instead, according to media reports. John Menzies would be the next logical option for Cerberus after trying to buy Swissport, the first investor said. Swissport itself is the largest strategic player in the aviation-services sector, with John Menzies in second place, according to the latter’s own reporting. It would therefore be a logical buyer in a consolidating industry, the first and second shareholders said. As of July, John Menzies has a new chairman in Phillip Joeinig, who has an “astounding221; track record over almost a decade at Swissport, the first shareholder noted. The second shareholder said he will soon meet Joeinig for the first time. Previous talks with the company’s directors have been “always quite frank”, the second shareholder said. He finds them receptive to shareholder concerns, he said, and they, too, are “frustrated221; with the company’s performance. John Menzies, Swissport, Cerberus, Kabouter, Lakestreet and Shareholder Value Management did not respond to requests for comment. by William Mace, Deane McRobie and Sofia Okun in London, with analytics by William Cain
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