Menzies Distribution has reported increases in full-year sales and profits despite being hit by last winter’s poor weather conditions.
Operating profits in 2010 rose 3.2% to £28.8m, on sales up 4% to £1.3bn, buoyed by contract wins following the demise of Dawson News.
But Menzies said severe weather conditions in November and December had “impacted sales across all categories”, costing the division an estimate £500,000.
Like-for-like newspaper sales were down 3.5% over the year, while monthly magazine sales were down 3.3% and weekly magazine sales fell 6.5%.
“While market conditions for the distribution division are challenging, the division is an excellent cash generator and holds a strong market position,” said chairman Iain Napier.
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