Profit jumps at Photo-Me International
Shares of Photo-Me International, the photo booth and vending machine operator, shot ahead after it said it expects further progress in the year ahead and posted a 12% increase in full year profit.
Shares of Photo-Me International, the photo booth and vending machine operator, shot ahead after it said it expects further progress in the year ahead and posted a 12% increase in full year profit.
Pre-tax profit rose to £20.1m for the year ended April 30 from £18m the previous year. Revenue fell to £207.8m versus £219.8m in 2011 after continued weakness at its sales and servicing division overshadowed a robust performance at its operations division.
"Despite the difficult trading background we intend to press ahead with new product development and we remain keen to add to our current portfolio of businesses if the right opportunities arise," said non-executive chairman John Lewis.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Subject to the risks and uncertainties detailed in the business and financial review, the Board once again anticipates further progress over the coming year," he added.
Net cash resources climbed £11m to almost £52m. The group is recommending a final dividend of 1.25p a share, giving a total dividend of 2.5p for the year, up 25%.
CJ
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Inheritance tax reforms: government urged to rethink curbs on rural reliefs
MPs want the government to delay changes to inheritance rax reliefs for farmers
-
‘I’m among the thousands of millionaires leaving the UK – the new tax rules don’t make sense ’
MoneyWeek spoke to a serial entrepreneur who is leaving the UK following the abolition of the non-dom tax status