13th Jul 2026 09:41
(Alliance News) - ME Group International PLC on Monday said trading picked up in May and June after a subdued April, as it reiterated recently reduced annual profit guidance.
The Epsom, England-based service equipment provider said pretax profit fell 3.8% to GBP32.7 million in the six months ended April 30 from GBP34.0 million the year prior, on revenue up 0.3% to GBP154.3 million from GBP153.8 million.
ME Group said it has seen a return to "more normal" trading patterns in the second half of the financial year, with total vending revenue for May 2026 11% higher on-year, and Wash.ME and Photo.ME vending revenues up 26% and 1.8% respectively. The positive revenue trend continued in June, it added.
Last month, ME Group said it was taking a "more cautious" view of the full-year outlook after reporting Photo.ME revenue fell 17% in April and Wash.ME sales rose only 3% compared with 17% the year before.
On Monday, ME Group said it expects to meet revised full-year pretax profit expectations of GBP69 million to GBP74 million, compared with GBP78.2 million in the financial year to October 2025.
"Trading patterns for laundry activities, and to a lesser extent photobooths, have been returning towards more normal levels since May. Nonetheless, the board is taking a cautious view of the full-year outlook," the company said.
Shares in ME Group, which plunged in June on the lowered guidance, jumped 12% to 115.40 pence each in London on Monday.
Aside from April, ME Group said trading in the first half of the financial year was in line with expectations.
It declared an interim dividend of 3.60p per share, down 6.5% from 3.85p the year before.
"The group's predictable revenue streams and highly cash-generative business model support our long-term growth strategy.
"We are on track to deliver a full-year performance in line with revised expectations, and we remain well-positioned for long-term success," said Chief Executive Serge Crasnianski.
By Jeremy Cutler, Alliance News reporter
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