Photo-Me International PLC Trading Update (3746W)
23 Abril 2021 - 1:00AM
UK Regulatory
TIDMPHTM
RNS Number : 3746W
Photo-Me International PLC
23 April 2021
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23 April 2021
Photo-Me International plc
("Photo-Me" or "the Group")
Trading Update
Photo-Me International plc (PHTM.L), the instant-service
equipment group, announces an update on the Group's trading
position.
In the first five months (ended 31 March 2021) of the 2021
financial year the Group performed better than expected, driven by
stronger than anticipated trading momentum in Japan due to an
increase in applications for the My Number card, the Japanese
government's social security and taxation photo identification card
scheme. In Japan, the Group's photobooths are equipped to scan the
unique My Number card QR code that every Japanese citizen has
received, and match the ID photo to the card application. The My
Number card scheme, which is not mandatory, was launched in 2015. A
government-backed incentive scheme to promote citizen applications
was introduced in September 2020 and is due to run until the end of
September 2021.
Consequently, the Board has revised its expectations for the
financial year ending 31 October 2021 and is pleased to announce
that it now expects to report revenue of between GBP190 million to
GBP200 million (previously GBP175 million) and profit before tax of
between GBP15 million to GBP19 million before exceptional items
(previously GBP9 million before exceptional items).
Outside of Japan, trading in the period was in line with the
Board's expectations. The Group's multi-country restructuring plans
to improve profitability are on track to complete at the end of
April 2021 and vaccination programmes continue to provide
encouragement.
Nevertheless, economic uncertainty remains across many of the
Group's operating markets due to the COVID-19 pandemic,
particularly in France which is a major contributor to the Group's
results, and in Japan and Germany where there is the possibility of
a reinforcement of lockdown measures. The Board continues to
closely monitor activity across all its end markets and will seek
to provide a further update in July 2021 when the Group publishes
its interim results.
ENQUIRIES
Photo-Me International plc +44 (0) 1372 453 399
Serge Crasnianski, CEO
Stéphane Gibon, CFO
Hudson Sandler +44 (0) 20 7796 4133
Wendy Baker/ Nick Moore photo-me@hudsonsandler.com
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 17 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 alongside Identification, Laundry, and
Kiosks, and will be a significant part of the Group's future growth
strategy.
In addition, the Group operates other 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 owned, operated and maintained by
Photo-Me. Photo-Me pays the site owner a commission based on
turnover, which varies depending on the country, location and the
type 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), public transport locations, and
administration buildings (City Halls, Police etc.). Equipment is
maintained and serviced by an established network of 650 field
engineers.
Photo-Me's shares have been listed on the London Stock Exchange
since 1962.
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END
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