23rd Mar 2026 09:15
(Alliance News) - ME Group International PLC on Monday published its delayed annual results, reporting a rise in revenue and earnings, as it said year-to-date trading has been in line with expectations.
The Epsom, England-based vending machine operator posted GBP78.2 million in pretax profit for the financial year that ended October 31, up 6.5% from GBP73.4 million a year prior.
Driving the earnings improvement was a 2.4% top-line gain, as revenue grew to GBP315.4 million from GBP307.9 million.
ME credited this growth to the "rapid expansion of of laundry services", as total laundry revenue rose 17% to GBP112.4 million.
Also helping the bottom line was a reduction in administrative expenses by 1.8% to GBP35.0 million from GBP35.6 million.
The company proposed a final dividend of 4.79 pence per share, up 7.6% from 4.45p a year prior. This brings its total dividend for the financial year to 8.64p, up 9.4% from 7.90p.
ME Group also on Monday launched a share buyback programme worth up to GBP18 million. The buyback will be run by Peel Hunt LLP and is expected to be completed by the end of the year.
On current trading, ME said its year-to-date performance has been in line with expectations, with the company "highly confident" in its strategy, as well as its financial and market position.
Shares in the company have been suspended temporarily owing to the delay in the publication of its annual results. In February, the company explained that auditor Forvis Mazars LLP needed more time to finish its audit procedures.
"I am delighted to announce another year of record profitability at ME Group, largely driven by the continued strong performance in our fast-growing laundry division," said Chief Executive & Deputy Chair Serge Crasnianski.
"Aligned with our growth strategy, and by leveraging strong customer relationships, the group will continue to further build on its existing strong international footprint through the accelerated rollout of its laundry operations..."Furthermore, the group aims to capitalise on its strong financial position and will seek to make acquisitions that are strictly and closely related to its core business, intended to either more rapidly expand its existing presence and services or broaden its offer through the creation of a new strategic division."
By Christopher Ward, Alliance News reporter
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