John Menzies plc reported unaudited group earnings results for the first half year ended June 30, 2017. For the period, the company's revenue was £1,174.1 million compared to £956 million a year ago. Operating profit was £7.1 million compared to £6.4 million a year ago. Profit before taxation was £0.5 million compared to £3.0 million a year ago. Loss attributable to equity shareholders was £3.6 million or 4.3 pence per basic and diluted share, compared to £1.5 million or 2.2 pence per basic and diluted share, a year ago. Net cash flow from operating activities was £0.8 million compared to £12.7 million a year ago. Purchase of property, plant and equipment was £15.7 million compared to £7.9 million a year ago. Intangible asset additions were £0.4 million compared to £0.4 million a year ago. Free cash flow was £5.4 million compared to £16.4 million a year ago. Underlying operating cash flow was £35.5 million compared to £31 million a year ago. Net debt was £235.4 million.

The underlying effective tax rate for the full year 2017 is estimated at 28%.