21st Oct 2015 10:48
LONDON (Alliance News) - Photo-Me International PLC Wednesday said it continued to perform well in the first four months of its current financial year, underpinning its confidence in its full year outlook.
In a statement ahead of its annual general meeting the company said its pretax profit at constant currency was up 10% in the four months to end-August, on revenue growth of 4.4%, also at constant currency.
However, it noted its performance had been hit by currency movements, as it had anticipated.
In particular, it cited a good performance in its Photobooth business, notably in Japan, and an increased contribution from the expansion of its coin laundry business in Europe.
Photo-Me said its cash generation remains "very strong", trending ahead of the previous year, and continuing to support its progressive dividend policy.
The companywill report its first-half results in December.
Shares in Photo-Me were down 0.5% at 156.75 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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