finance

Menzies targeting big savings in 2020



Menzies , the global aviation business headquartered in Scotland, is targeting £10 million of savings to get the transport business in ship-shape for 2020. The company has been involved in a nine-month pay dispute with the GMB union over ground-handling staff at Heathrow, which has now been resolved.

In a trading update, the company said it was pleased to report that the group continues to make good progress. The company said 2019 has been a ‘year of transition with a difficult trading environment continuing throughout the year’.

“We are also pleased to have concluded a legacy legal case that has resulted in an inflow of c £10 million which will have a positive impact on our net debt position,’’ said the update.

In response, decisive actions has been implemented. 

“Commercially, we have put the business back on the front foot with excellent customer engagement and this is now being evidenced with the majority of the substantial contracts due during the year renewed, significant new contract wins and a full pipeline of opportunities,’’ said chief executive Giles Wilson.

He said: “I am very pleased to see the tough management actions taken during the year are delivering benefits. This year has been about building for the future and I am confident that we have the team in place to drive the business forward. The improvements in our operational delivery, commercial activities and customer engagement have been key and I look forward to seeing the benefits of this come through as we progress.”

Philipp Joeinig, chairman, said: “I am excited to move into 2020 when we believe the company will be well placed to substantially increase profits over 2019 with the business right sized and fit for the future. We are now a leaner organisation with a new targeted commercial and business development approach that will deliver expansion with new and existing customers and entry into additional markets that will commence in 2020.”

“Our mission is to be the service provider of choice for our customers and we drive to outperform our competitors and our market.”



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more