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.
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