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Menzies(John) PLC (MNZS)

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Friday 08 September, 2000

Menzies(John) PLC

AGM Statement

Menzies(John) PLC
8 September 2000

                      John Menzies plc
                    CHAIRMAN'S STATEMENT

Mr   Gavin   Reed,  Chairman  of  John  Menzies  plc,   told
shareholders at today's Annual General Meeting that:

'The  programme of significant change designed to  transform
the  Group  into  a  logistics support services  company  is
continuing   with   the  disposal  of  THE,   the   non-core
entertainment  wholesaling business, on  11th  August  2000,
which eliminated a loss-making business from the Group.

During the three month period since the year end on 6th  May
2000, the Group's trading performance has been in line  with
the Board's expectations.

Menzies Wholesale has increased sales on last year, although
magazine growth slowed, reflecting a reduction in the number
of new titles and a fall in the women's weekly market.  This
growth  has  nonetheless  offset the  decline  in  newspaper
volumes   which  continued  despite  extensive   promotional
activity in this area.

The  intention  of Tesco to appoint a single wholesaler  for
its  UK  magazine supply continues to create tension in  the
industry.  Independent reports have highlighted the  adverse
implications  that  this would have  on  the  existing  news
network.  However, I should emphasise that we have long term
contracts in place with the majority of publishers which  we
are  fully committed to honouring. These suppliers have also
assured us that they intend to do likewise.

Menzies   Aviation   Group's   reorganisation   into   three
Divisions,  Cargo  Handling,  Passenger  and  Ramp  Handling
Services,  and  Support Services, has enabled management  to
capitalise  on  recent  organic  growth,  acquisitions   and
business start-ups. Further opportunities continue to  arise
and  the  outlook  for Menzies Aviation Group  remains  most

The acquisition of Ogden Ground Services ('OGS'), the ground
handling  activities of Ogden Aviation Services, provides  a
unique  opening  to propel Menzies Aviation Group  into  the
forefront of the industry internationally, and will  provide
a   strong  platform  for  further  growth.   Completion  is
expected   around  the  end  of  September.   Our  dedicated
integration  team  has  now  met  with  virtually  all   OGS
management and visited the majority of locations.   We  have
also  separately  met  with  all of  the  key  international
partners of OGS.

We  are  confident that the acquisition of OGS  will  enable
Menzies   Aviation   Group  to  capitalise   on   the   many
opportunities  offered in an industry which is consolidating
globally and at the same time subject to market deregulation
and liberalisation.

THE  Games  has  continued  to perform  well,  with  Gameboy
product sales well ahead of last year, due to the benefit of
the  Pokemon phenomenon.  While the decline of the  N64  has
continued,  the release of certain long awaited  titles  and
launch of Pokemon on the console has assisted this format.

Our contract with Nintendo ends in December this year and we
are  currently  in  active discussions  about  renewal.   We
remain determined to ensure that any renewal will reduce the
Group's exposure to the volatility of this market.

Early  Learning Centre's turnaround continues  in  a  highly
competitive  retail  toy  market.    Turnover  through   all
channels  has increased by 2 per cent in the year  to  date.
We  believe that the business will return to profit  in  the
current   year,   although  it  remains   reliant   on   the
Autumn/Winter season.

Overall,   the   Group   is  performing   to   the   Board's
expectations,  confirming our belief that our strategy  will
deliver sustainable growth in shareholder value.'

Gavin B Reed


Oliver Jones
Bell Pottinger Financial                Tel: 020 7353 9203


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