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John Menzies H1 profit falls YOY

John Menzies PLC said its normalized net income for the first half came to 12 Great British pence per share, a decrease of 26.6% from 17 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £7.5 million, a decrease of 26.7% from £10.2 million in the prior-year period.

Total revenue grew on an annual basis to £954.1 million from £944.4 million, and total operating expenses increased year over year to £943.1 million from £929.5 million.

Reported net income declined 70.9% year over year to £2.9 million, or 5 pence per share, from £9.9 million, or 16 pence per share.