8 Jan 2016 07:00
8th January 2016
Photo-Me International plc
("Photo-Me" or the "Group")
Update on Japanese trading
As Photo-Me outlined in its half-year results announcement on 10th December 2015, the medium-term outlook for its Japanese business is good as a result of the introduction of new My Number Cards (with facial photo) for every resident in Japan from 2016. These cards are to be used primarily for tax and social security purposes.
Photo-Me can confirm that trading in Japan in both November and December 2015 showed a very significant uplift over November and December 2014, with takings approximately 90% higher than the previous year. Consequently, trading in Japan in this period was well ahead of the Group's expectations.
Whilst to date we have only seen an impact on trading in November and December, if a similar level of trading in Japan were to continue in the remaining four months of the financial year then, ceteris paribus, Photo-Me would expect to report results materially ahead of current market expectations.
Photo-Me will update the market in more detail in its trading update currently scheduled for late February 2016.
Enquiries:
Photo-Me International 01372 453 399
Gabriel Pirona
Media/Investors
IR Focus
Neville Harris 07909 976044