Photo-Me International anticipates higher sales, profits for 2021

U.K.-based instant-service company Photo-Me International plc, in a trading update, reports the group anticipates better-than-expected results for the fourth-quarter ending Oct. 31, based on increasing sales momentum in May, June and July that continued through the last quarter. Two segments – photobooths and laundry – stood out. As a result, the company expects revenue will be slightly ahead of previous expectations of approximately £210 million, and profit before tax (before exceptional items) will come in towards the upper end of previous expectations of between £25 million and £30 million, subject to completion of the FY21 audit process.

During the year, the company continued its growth strategy, with the ongoing expansion of the Revolution Laundry operations, and extension of its Feed.ME food business through the acquisition of a manufacturer of pizza vending machines. The rollout of the Group’s new corporate brand strategy, ME Group, continues to strengthen its brand position and better reflects the significant diversification of its operations in recent years.

The company will formally publish its results for the 12 months Feb. 23, 2021. 

Photo-Me operates vending units across 20 countries in four principal areas: 

In addition, the group operates other vending equipment such as children’s rides, amusement machines, and business service equipment.