ME Group reports six-month revenue up 24 percent

ME Group International plc (formerly Photo-Me International) announced, for the six months ending April 30, group revenue was up by more than 24% and profit before tax was up by more than 35% compared with the six months ending 31 April 2022.

Photobooth activity, driven by demand for photo ID, continued to increase across all territories, particularly in Europe and Asia, with Photo.ME revenue up approximately 25% compared with the same period last year. The group has focused much of its recent R&D efforts on photobooths, developing printing and photography capabilities, the company said. 

The Print.ME business, which operates primarily in France, has also performed well with revenue up approximately 11% on H1 2022, the company said. 

As a consequence of this strong trading performance, the board is increasing the outlook for the current financial year, ahead of previous expectations, with revenue between £300 million and £320 million, EBITDA between £100 million and £110 million, and profit before tax between £64 million and £67 million.