Photo-Me International PLC AGM Statement (0565N)
October 20 2016 - 4:50AM
UK Regulatory
TIDMPHTM
RNS Number : 0565N
Photo-Me International PLC
20 October 2016
20(th) October 2016
Photo-Me International plc
("Photo-Me" or the "Group")
AGM Statement
Photo-Me (PHTM.L), the instant service equipment group, holds
its AGM at 12.00 noon today. The following statement covering
trading in the first four months of its financial year will be
issued at the meeting.
The Group is pleased to report that good progress is being made
in the year to date. Turnover in the first four months improved by
18% and pretax profits were 14% higher compared to the same period
last year, reflecting the investment programme and favorable
currency movements.
Overall, the photobooth and laundry businesses are performing
well.
PMI has successfully rolled out the ANTS upgrade of all
photobooths in France to enable the transmission of data directly
from the point of capture to the administration databases.
The Laundry business has made significant progress with turnover
increasing by 192% in the first four months compared with the same
period last year, due to both the increased number of machines and
revenue per machine. The Group is now accelerating its expansion in
the town centres through the roll-out of its new laundry shops
concept, in particular in France, Belgium and Spain.
The Group also currently expects the recently announced
acquisition of the Asda units to be completing around the end of
this month.
The Group's cash generation remains very strong, trending ahead
of last year's performance and this continues to support our
progressive dividend policy.
The Board remains confident in the business performance for the
year and a further update on trading and outlook will be provided
at the time of Photo-Me's half-year results announcement in
December 2016.
Enquiries:
01372 453
Photo-Me International 399
Gabriel Pirona
Media
Madano Partnership
Matthew Moth / Kimberley Richardson 020 7593 4000
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMPGGQCUUPQURU
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