22nd Jul 2025 09:48
(Alliance News) - ME Group International PLC on Tuesday reported record interim profit, with its fast-expanding laundry division emerging as the key growth driver, and it said it is confident in meeting is full-year guidance.
The Surrey, England-based vending machine operator posted pretax profit of GBP34.0 million for the six months that ended April 30, up 14% from GBP30.0 million a year earlier.
Revenue rose 2.3% to GBP153.8 million from GBP150.4 million, and diluted earnings per share climbed 13% to 6.74 pence from 5.97p.
Strong demand across all geographies for the company's Revolution-branded laundry machines was the standout performance in the first half, said ME Group, which still also offers its Photo.ME automatic photobooths.
Total laundry revenue jumped 18% to GBP51.9 million from GBP44.1 million a year before, while vending revenue from the Revolution units grew 13% to GBP46.7 million from GBP41.2 million. Laundry activities now contribute nearly half of the group's earnings before interest, tax, depreciation, and amortisation, ME Group said.
Chief Executive Officer Serge Crasnianski said: "We are pleased to report record trading momentum in the first half, driven by a strong performance from our rapidly growing laundry operations."
The firm increased its interim dividend by 12% to 3.85p from 3.45p. It said the payout will return GBP14.5 million to shareholders and reaffirmed its commitment to distribute more than 55% of annual post-tax profits.
ME Group reiterated it is on track to meet full-year profit expectations, forecasting pretax profit between GBP76 million and GBP80 million, up from GBP73.4 million in financial 2024.
Crasnianski said: "The board's expectations for financial 2025 are unchanged, and the group remains well-positioned for long-term success."
Ebitda rose to GBP53.2 million from GBP51.2 million, and net cash increased to GBP36.2 million from GBP21.7 million.
Shares in ME Group were up 2.1% to 221.50 pence in London on Tuesday morning.
By Eva Castanedo, Alliance News reporter
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