Handler John Menzies has agreed a new covenant package with its bank, giving it “additional flexibility”, and acknowledged it was seeing signs of a partial recovery.
Although it won “significant new business” in the past six months, it faced a 33% year-on-year decline in revenue in the first half.
“The revenue decline has had a significant impact on profitability and will lead to the group being loss-making in the first half, although this …

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Source: The Loadstar