AGM Statement

RNS Number : 7006P

Photo-Me International PLC

06 October 2011

 



October 6^th 2011 

Photo-Me International

AGM Statement

Photo-Me (PHTM.L), the instant service equipment group, has its AGM at 1pm today and John Lewis, Chairman will make the following comment on trading since May 1^st 2011.

"The Group has had a good start to the year, particularly in the Operations division where results are ahead of both the comparable period last year and management's expectations for the current period. This has been led by Continental Europe, but we are also pleased to note that the Japanese business has begun to recover from the after effects of the earthquake earlier this year. In the UK and Ireland, trading is more mixed, reflecting the difficult general economic environment.

The Sales and Servicing division, which now accounts for less than 20 per cent of the Group's turnover, has started the year very slowly and is not generating the expected contribution. Sales of the Group's new minilab, the DKS4, have now started - in low numbers, and we hope to see a more significant progression in the first months of 2012.

The Group will continue to focus on the introduction of new products - like the DKS4 minilab and the new Starck photobooth - combined with strong management of the existing portfolio, to achieve its objectives.

While 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, the Board is pleased with the performance so far this year, in testing market conditions, and continues to believe that the Group's long term prospects remain sound, supported by a significant net cash balance.

The Board is currently in discussions regarding the appointment of another independent Non-executive Director.

The Board intends to announce Photo-Me's results for the half year to 31 October 2011 in early/mid December 2011."

Enquiries:

Photo-Me International

01372 453 399

Serge Crasnianski or Françoise Coutaz-Replan   

Media

Madano Partnership      

Matthew Moth/Sarah Mylroie

020 7593 4000

Investors:

IR Focus

Neville Harris

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 Servicing 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.

 

END

 

 

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