Photo-Me International, the photo booth and vending machine operator, says its Sales and Servicing division has failed to see any 'pick up' since the end of October 2011.
Things are also tough for the French division, Kis, whose market "continues to be challenging" according to Friday's release.
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The guidance for the full year is that the company will achieve market expectations.
Shares in Photo-Me fell 3% in early trading but by 10:55 had recovered to stand just 0.14% down on Thursday's close. Over the last 12 months Photo-Me's shares have lost 17% of their value.
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