John Menzies plc provided earnings guidance for the year 2013. The company anticipates the full year result to be in line with its expectations. Menzies Aviation has decided to close its cargo handling operations at Chicago Airport, having exhausted all alternative options over the last two years. This will result in an exceptional charge of £7 million in 2012 but will improve EBIT in 2013 by around £1.4 million. The company announced that net debt at the year end is expected to be below £100 million. The Group interest charge will increase by approximately £2.5 million in 2013, purely as a result of the change to the accounting treatment of IAS19.

The board of the company announced that Paul Dollman, group Finance Director, has informed the company that he intends to retire from the board and will not seek re-election at the AGM on May 17, 2013, subject to a successor being appointed. Paul then intends to concentrate on building a portfolio career. In addition, non-executive director, Ian Harrison has also intimated that he will not be seeking re-election at the 2013 AGM. Ian has been on the board since 1987.