RNS Number : 4462O
Photo-Me International PLC
19 September 2011
September 19th 2011
Interim Management Statement
Good 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 2011 to date.
The Group is pleased to report a good start to the year, with results ahead of both the comparable period last year and management's expectations for the current period.
Profit before tax for the first quarter to the end of July 2011 was around one-third higher than the same period last year, driven by the Operations division which benefited from a very strong performance in its French business, Photomaton. This was down to both continued strong management, as well as the law change in France which protects the private sector's position in the provision of photos for biometric passports. The Group is anticipating that the capture of ID photos will be completely removed from town halls in France by the end of 2011. The roll-out in Europe of the new Starck photobooths is progressing according to plan and the booths are being well received. The UK launch is scheduled for November 2011.
The Sales and Services division has started more slowly, but it is not a seasonal business and has the roll-out of Group's new minilab the DKS4 to handle during the year.
As usual, the performance to date should not be taken as a guide for the year as a whole, because the Group generally enjoys much stronger trading in the first half compared to the second half, due to the Operations division. In addition, the trading background in many markets - including the UK - remains difficult due to the global economic backdrop.
The Board will provide a further update on trading and outlook at the time of the Company's AGM on 6 October 2011.
01372 453 399
Serge Crasnianski or Françoise Coutaz-Replan
Matthew Moth/Sarah Mylroie
020 7593 4000
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 22,400 sited worldwide, Photo-Me is the world's leading operator of photobooths.
Sales and Services comprises the development, manufacture, sale and after-sale servicing of this Operations equipment and a range of photo-processing equipment, including photobook makers, kiosks and minilabs, together with the servicing of third party equipment.
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