Photo-Me notes fall in share price

Photo-Me has noted the fall in its share price today following media comment regarding photo ID regulations in the UK.

The company confirmed it has continued to trade in line with its expectation since its interim results announced on 9 December.

A statement says: “The company said it believes its latest technology represents a major growth opportunity as the most secure photo ID solutions available and that accepting photos from mobile phones for official documents is incompatible with developing security requirements.

“Photo-Me’s solutions have been adopted by ANTS (Agence Nationale des Titres Securises, a national agency linked to the French Ministry of Transport and issuing secured official personal documents) as well as by the Ministry of Foreign Affairs and Trade in the Republic of Ireland where trials are under way for photobooth secure online passport applications.

“Furthermore, it is currently in ongoing discussions with Her Majesty’s Passport Office in order to equip its photobooths in the United Kingdom with the technology used in France.”

At 3:01pm: (LON:PHTM) PhotoMe International PLC share price was -15p at 155.25p

Story provided by StockMarketWire.com