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Photo-Me Int'l hikes H1 pretax profit

By BFN News | 07:57 AM | Thursday 04 December, 2014

Photo-Me International has hiked its H1 pretax profit to £28.8m, from £23.0m. Turnover was £96.4m, from £101.3m. Its dividend was 2.34p, from 1.8p. Chairman John Lewis said: "Against a global economic background which remains uncertain, and despite large adverse movements in our major trading currencies, the Group has produced another very strong performance and delivered another record profit." Highlights: · Turnover returned to growth of 0.9% on a constant currency basis. · Underlying pre-tax profits up 10% to a record £25.3m; up 17.3% in constant currency. · Underlying turnover and pretax growth restrained by a further decline in minilab business - effect expected to be much smaller going forward. · Net cash position of £64.7 million, despite increased capex and combined tax and dividend payments of £14.5m (net of sale of land). · Photobooth estate growth of 5.2% year-on-year, with growth above 5% in all major operating territories. · 744 Revolution laundry units deployed at end-October - 374 retained operating units performing well. · Laundry manufacturing expansion remains on track. · Promising new product pipeline including new digital printing kiosk and supermarket carwash. Story provided by

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