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Photo-Me sees Japan unit returning to growth this year

By BFN News | 09:22 AM | Wednesday 24 October, 2018


Photo booth and laundry group Photo-Me International maintained its full-year guidance and said it expected its Japanese subsidiary would return to growth this financial year following a restructure. Trading in the first five months of the year had been in line with expectations, the company said ahead of its annual general meeting. Overall results for the first half were expected to flat on year, excluding an exchange gain and a favourable commercial litigation outcome in the corresponding period. 'Whilst the photo-identification market in Japan remains highly competitive, the benefits of Photo-Me's initiatives are becoming evident earlier than initially expected,' the company said. 'The board is confident that its Japanese subsidiary will return to growth in the 2019 financial year.' At 9:22am: (LON:PHTM) PhotoMe International PLC share price was +9.9p at 109.5p Story provided by StockMarketWire.com

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