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Photo-Me's H1 pretax profit falls

By BFN News | 09:45 AM | Thursday 10 December, 2015


Photo-Me International has posted an underlying H1 pretax profit of GBP25.8m, from GBP28.8m. Revenue was GBP92.8m, from GBP96.4m. Dividend was 2.575p a share, from 2.34p. Non-executive chairman John Lewis said: "Photo-Me has struggled to grow its revenue in recent years and the 2.4% increase in constant currency revenue this half-year represents a real step change. "While we are continuing to see a good trading performance in Japan, more importantly - and as we had anticipated - our growing laundry business is increasingly having a positive impact. "Our new product pipeline - including the next generation of Revolution - is very promising and our cash flow and net cash position both remain extremely strong. In addition, our purchase of Fowler(UK) is expected to substantially improve our prospects in the UK laundry market going forward. "The Board remains confident for the outlook of the business over the rest of the year and remains optimistic about future prospects." At 9:45am: (LON:PHTM) PhotoMe International PLC share price was -7.37p at 148.13p Story provided by StockMarketWire.com

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