AGM and Interim Management St

RNS Number : 6936S

Photo-Me International PLC

15 September 2010

 



Photo-Me International ("Photo-Me" or "the Group")

Annual General Meeting and Interim Management Statement

Strong start to the year

Photo-Me (PHTM.L), the instant service equipment group, is today issuing its Interim Management Statement, which covers the period from 1 May 2010 to date, which coincides with its AGM which takes place at 1pm today.

The Group is pleased to report a very strong start to the year, with results ahead of both the comparable period last year and management's expectations for the current period. All three geographic areas have done well, with a much improved performance in the core Operations business being of particular note despite little change in the overall trading background.

Pleasingly, the Group has launched the Pocketbook (a new photobook maker) and has now secured two orders totalling 550 machines from two major OEMs, with delivery expected to commence in two to three months' time. This is an encouraging start and the Group continues to seek further orders with a range of relevant OEMs.

In a week's time, the Photokina show (the world's largest fair for photography and imaging) will take place in Cologne and the Group will be showcasing two of its new products. The first will be a combined photobook and Xerox machine, designed for the US market. The second is the Photobook Builder which is designed for use in conjunction with digital minilabs, the installed base of which worldwide is around 100,000. The Group believes both products have significant potential.

The results thus far build on the improving trend from the last financial year and this is mirrored in a further strengthening of the net cash position on the balance sheet. The Board believes that the Group is well-positioned for further growth.

 Enquiries:

Photo-Me International

01372 453 399

Serge Crasnianski or Françoise Coutaz-Replan   

Media

Madano Partnership      

Matthew Moth/Charles Reynolds

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 21,450 sited worldwide, Photo-Me is the world's leading operator of photbooths.

Sales and Services comprises the development, manufacture, sale and after-sale servicing of this Operations equipment and a complete range of photo-processing equipment, including photobook makers, kiosks and minilabs, together with the servicing of third party equipment.

 

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