Photo-Me International PLC Delay in publishing accounts (6320M)
22 Enero 2021 - 6:05AM
UK Regulatory
TIDMPHTM
RNS Number : 6320M
Photo-Me International PLC
22 January 2021
Photo-Me International plc
("Photo-Me" or "the Group")
Delay in publishing accounts
The Board of Photo-Me (LSE: PHTM) announces that following
consultation with its auditor, Mazars LLP, the release of the
Group's results for the 18-month period ended 31 October 2020 will
be postponed until 10 March 2021.
This postponement is solely due to the challenges in preparing
and auditing the accounts posed by the ongoing COVID-19 pandemic,
and in particular the recent restrictive lock down measures imposed
by the governments of those several countries in which the Group
operates. The revised timing of the results will also give the
Board additional time to assess the impact of the latest
restrictions and enable it to provide the clearest possible
guidance to the Group's shareholders on likely future financial
performance.
In delaying publication, the Board relies on the Statement of
Policy issued by the FCA on 5 November 2020 which extended the
period during which certain companies can publish their annual
financial reports after the deadline of four months from their
financial year end as long as they are published within six months
from that date.
The Board expects that the Group will report audited results for
2020 in line with current market guidance provided in the Group's
announcement of 9 December 2020.
END
Enquiries:
Photo-Me International plc + 44 (0) 1372 453 399 / ir@photo-me.co.uk
Hudson Sandler +44 (0) 20 7796 4133
Wendy Baker/ Emily Dillon/ Nick photo-me@hudsonsandler.com
Moore
NOTES TO EDITORS
Photo-Me International plc (LSE: PHTM) operates, sells and
services a wide range of instant-service vending equipment,
primarily aimed at the consumer market.
The Group operates vending units across 18 countries and its
technological innovation is focused on three principal areas:
-- Identification: photobooths and integrated biometric identification solutions
-- Laundry: unattended laundry services, launderettes, B2B services
-- Kiosks: high-quality digital printing
The Group entered the self-service fresh fruit juice equipment
market in April 2019, with the acquisition of Sempa. This will
become a key business area ('KIS Food') alongside Identification,
Laundry and Kiosks, and will be a significant part of the Group's
future growth strategy.
In addition, the Group operates vending equipment such as
children's rides, amusement machines and business service
equipment.
Whilst the Group both sells and services this equipment, the
vast majority of units are operated and maintained by Photo-Me.
Photo-Me pays the site owner a commission based on turnover, which
varies depending on the country and location of the machine.
The Group has built long-term relationships with major site
owners and its equipment is generally sited in prime locations in
areas of high footfall such as supermarkets, shopping malls
(indoors and outdoors) and public transport venues. The equipment
is maintained and serviced by an established network of 700 field
engineers.
The Company's shares have been listed on the London Stock
Exchange since 1962.
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END
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January 22, 2021 07:05 ET (12:05 GMT)
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