26th Feb 2015 10:49
LONDON (Alliance News) - Instant service equipment firm Photo-Me International PLC said Thursday that despite the strengthening of sterling and the euro against the yen, it remains confident of delivering full-year results "at least in line" with expectations.
It also reiterated its commitment to increase its total dividend for its current year by 30%. In the previous year to end-April, Photo-Me proposed a dividend of 3.75 pence.
The company said its pretax profit in its third quarter to end-January 2015 was up 12% on the previous year, and up 18% at constant currency. It said it had been encouraged by the performance of its core photo-booth business and its growing laundry business in the year to date.
Photo-Me said the roll-out of its coin-operated laundry business continues well, with a total of 898 units having been deployed since launch as at the end of January. It expects to have deployed its 1,000th unit during 2015, and said it remains on track to have deployed around 2,000 units by the end of 2015.
In its new markets of Ireland and Portugal, a total of 45 machines are now operation, and the company said to date both countries are delivering "very strong results."
Photo-Me plans to launch a new photo booth designed by French designer Phillippe Starck in the second half of 2015. It also is trialling a new car wash idea at five sites, and said it has seen "strong interest" from a French supermarket chain.
It plans to launch another new generation digital kiosk, also designed by Starck, later in 2015.
"The group continues to view the future with great confidence based on the strong performance of the current portfolio supported by the planned roll out of new units and its growing pipeline of new products," Photo-Me said in a statement.
Shares in Photo-Me are trading up 3.3% at 149.75 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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