Excluding a £2m property disposal gain and £1m restructuring charge adjusted H1 PBT was £31.5m, bang in line with our forecasts (N+1E £31.5m), equating to growth of 2% but -2% YoY on a CER basis given the drags in the UK & Japan (as flagged), which we do not expect to recur helped by strategic, operational and regulatory factors. In Laundry, ARPU and supplier production capacity comfortably exceeds our growth scenario assumptions (see initiation for details). Combined, this underpins our view t ....
11 Dec 2017
N+1 Singer - Photo-Me International - Growth at inflection point, no need for cold towel in Laundry
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N+1 Singer - Photo-Me International - Growth at inflection point, no need for cold towel in Laundry
ME Group International plc (MEGP:LON) | 169 0 0.0% | Mkt Cap: 637.1m
- Published:
11 Dec 2017 -
Author:
Matthew McEachran -
Pages:
4
Excluding a £2m property disposal gain and £1m restructuring charge adjusted H1 PBT was £31.5m, bang in line with our forecasts (N+1E £31.5m), equating to growth of 2% but -2% YoY on a CER basis given the drags in the UK & Japan (as flagged), which we do not expect to recur helped by strategic, operational and regulatory factors. In Laundry, ARPU and supplier production capacity comfortably exceeds our growth scenario assumptions (see initiation for details). Combined, this underpins our view t ....