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Photo-Me FY pretax profit up 20.7% to £24.3m

By BFN News | 07:33 AM | Thursday 27 June, 2013


Photo-Me booked a full-year pretax profit up £24.2 million, up 20.7% from the prior year's £20.1 million. Revenue totalled £195.6 million, from £207.8 million. Its dividend for the year was 3p a share, from 2.5p. The results included a profit of £2.4 million on the sale of an industrial building in France, and additional stock and other various provisions. Photo-Me said its cash generation remained very strong. "The overall revenue for the Group was a little lower than last year and has been on a gently declining trend for some time," the company said in a statement. "The Board is optimistic that going forward this trend will reverse with the progressive rollout of our laundry product - branded Revolution - which we believe has a real commercial opportunity in Europe, beginning in France and Belgium," it said. Looking ahead, Photo-Me said the above factors, along with increased penetration and maturity of our Starck photobooths, lower manufacturing costs and expansion into other territories, means the it has strong prospects going forward. Photo-Me is an instant service equipment group. Story provided by StockMarketWire.com

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