12 May 2011 07:00
Photo-Me International plc
Trading update
The Directors of Photo-Me International plc (PHTM.L) (the "Group") are pleased to report that the Group has continued to trade well since its last Interim Management Statement on 10 March 2011 and results for the year to 30 April 2011 are expected to be in line with market expectations.
The Group's largest trading area by far is France, where the Operations division has delivered a very strong performance over the year which has helped to offset the disruption to the Operations business in Japan following the recent Earthquake and some restrictions on electricity usage.
The Group ended the year with a significantly enhanced net cash position totalling over £40 million. This represents an improvement of some £32 million over the year. It includes the receipt of £8 million from the assignment to a financial institution of future rental payments on an investment property in Grenoble let to EDF.
The preliminary announcement of the results for the year to 30 April 2011 will be made at the end of June.
Enquiries:
Photo-Me International
Serge Crasnianski or
Francoise Coutaz-Replan 01372 453 399
Media:
Madano Partnership
Sarah Mylroie/Matthew Moth 020 7593 4000
Investors:
IR Focus
Neville Harris 020 7593 4015
Notes for editors:
Photo-Me (www.photo-me.co.uk) has two main activities: Operations and Sales & Servicing
Operations comprises the operation of unattended vending equipment, in particular photobooths, digital printing kiosks, amusement machines and business service equipment. With 22,150 sited worldwide, Photo-Me is the world's leading operator of photobooths.
Sales and Services comprises 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.