23 Oct 2014 11:23
23 October 2014
Photo-Me International plc
("Photo-Me" or the "Group")
AGM Statement
Good increase in profitability in first five months
Photo-Me (PHTM.L), the instant service equipment group, holds it AGM at 12.30 pm today. The following statement covering trading on a constant currency basis in the first five months of its financial year will be issued at the meeting.
"The Group published an IMS on 12 September 2014 and is pleased to report that the positive trends mentioned in it have continued. On a constant currency basis, turnover in the first five months improved compared with the same period last year, and pre-tax profits have moved ahead strongly. The Group has performed well in this important trading period and the Board remains confident of the outlook for the full year.
The Group's core Photobooth business is performing well, with growth in all major geographic areas and a particularly strong performance in Japan.
Progress with the rollout of our laundry units continues to be good, and the total deployed (by operation or by sale) is now over 700 units, more than 600 of which are in France. The Group is specifically focused on deploying laundry units in 3 other countries and intends to expand to most of the other countries where the Group is already present. The financial performance of the laundry business has been strong and the outlook remains encouraging.
The business overall is being well managed, and the Group continues to be innovative in its approach to products and markets. Importantly, the cash position remains very strong and underscores the Group's confidence in its business development.
The Board will provide a further update on trading and outlook at the time of the Group's half-year results' announcement in December 2014."
Further enquiries:
Photo-Me International
Françoise Coutaz-Replan 01372 455625
Media:
Madano Partnership
Julien Cozens 020 7593 4000
Investors:
IR Focus
Neville Harris 020 7593 4015
Notes for editors:
The principal activity of Photo-Me (www.photo-me.co.uk) is the ownership and operation of unattended vending equipment. This comprises photobooths, laundry machines, digital printing kiosks, amusement machines and business service equipment. With over 25,000 sited in Europe and Asia, Photo-Me is the world's leading operator of photobooths.
Photo-Me also has a business responsible for the development, manufacture, sale and after-sale servicing of this Operations equipment and a range of photo-processing equipment, including photobook makers, kiosks and minilabs, together with the servicing of third party equipment.