JOHN MENZIES PLC Registered office: 2 Lochside Avenue Edinburgh Park Edinburgh EH12 9DJ, UK Tel: +44 (0) 131 225 8555 Fax: +44 (0) 131 220 1491 Email:
[email protected] Web: www.johnmenziesplc.com JOHN MENZIES PLC Registered in Scotland with company number SC34970 ANNUAL REPORT AND ACCOUNTS 2016 ANNUAL REPORT AND ACCOUNTS 2016 STRATEGIC REPORT FINANCIAL STATEMENTS 01 Highlights 85 Independent Auditor’s Report 02 Our Business at a Glance 92 Group Income Statement 04 Chairman’s Statement 93 Group Statement of Comprehensive Income 06 Financial Review 94 Group and Company Balance Sheets 10 Business Performance Review: 95 Group and Company Statements Menzies Aviation of Changes in Equity 18 Business Performance Review: 96 Group and Company Statements Menzies Distribution of Cash Flows 22 Market Overview 97 Notes to the Accounts 24 Our Business Model and Strategy 137 Five Year Summary 26 Our Strategy at a Glance 138 List of all Subsidiary, Joint Venture and 28 Key Performance Indicators Associate Undertakings 30 Risk Management 34 Resources, Relationships and Responsibilities SHAREHOLDER INFORMATION 147 Notice of Annual General Meeting GOVERNANCE REPORTS 154 General Information 42 Chairman’s Introduction 44 Board of Directors 46 Corporate Governance Statement 51 Nomination Committee Report 53 Audit Committee Report 58 Remuneration Committee Report 79 Directors’ Report 84 Directors’ Responsibilities Design, consultancy and production www.luminous.com WHO WE ARE John Menzies plc is a time-critical logistics and support specialist. In 36 countries around the world our employees provide market-leading service to meet our customers’ needs. Wherever you find a Menzies logo, you’ll find people delivering around the clock, REPORT STRATEGIC against the clock.