LONDON (Alliance News) - Photo-Me International PLC Tuesday said it anticipates "another good year of growth" as it reported a rise in pretax profit for its most recently ended financial year, and hiked its payout to shareholders with an improved total dividend and special dividend.
The company, which makes instant service equipment like photo booths and laundry machines, proposed a final dividend of 3.285 pence, taking its total dividend for the year to 5.86p. On top of this, Photo-Me will also pay a special dividend of 2.815p.
For the year to end-April Photo-Me reported a pretax profit of GBP40.1 million, up from GBP38.5 million, on revenue of GBP184.0 million, up from GBP177.2 million the year before.
Photo-Me saw a strong performance in its Asia and the Rest of The World segment, helped by a rise in photobooth units in Japan, where it saw an "outstanding" performance, helped by the introduction of a new ID card regulation.
In its biggest segment, Continental Europe, revenue fell 0.6%, although rose 3.8% at constant currency, as it continued to roll out higher margin photobooths and its Revolution laundry product. In the UK and Ireland revenue rose 2.5% at constant currency, helped by a resilient photographic business in the UK and the expansion of its laundry business in Ireland.
"Operationally, the business has made strong progress against a global economic backdrop that has been challenging. The expansion of our Revolution laundry product remains on track and returns stay encouraging," said Chairman Non-Executive John Lewis in a statement.
"Whilst uncertainties remain, in particular in relation to currency, the Board anticipates another year of good growth," Lewis added.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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