Newspapers and mags help Menzies

STRONG volumes and stable margins in newspaper and magazine sales outstripped losses from aviation services, the John Menzies distribution group has reported.

For the first half of the year pre-tax profits more than doubled to £8.8m despite a loss of £600,000 in its aircraft cargo handling business.

Chief executive David Mackay, who retires next spring, said the aviation division is in recovery, posting profits on a monthly basis since March. The interim dividend is held at 5.5p