12 Jul 2021
Photo-Me - Better than expected start to the year
Photo-Me’s H1 results show a significant recovery from the very poor market conditions a year ago. Asia led the way by geography, with sales up +13% (group +3%), and Laundry by business, with sales up +23%. Combined with the benefit of cost savings and restructuring, a very respectable adjusted operating margin of 15.2% was earned (H1 2020 2.6%). Q2 saw significantly better conditions than Q1, driven by Japan and France, and management has increased FY 2021 adj. PBT guidance from £15-19m to £21- ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Photo-Me - Better than expected start to the year
ME Group International plc (MEGP:LON) | 166 0 0.0% | Mkt Cap: 625.1m
- Published:
12 Jul 2021 -
Author:
Guy Hewett -
Pages:
8
Photo-Me’s H1 results show a significant recovery from the very poor market conditions a year ago. Asia led the way by geography, with sales up +13% (group +3%), and Laundry by business, with sales up +23%. Combined with the benefit of cost savings and restructuring, a very respectable adjusted operating margin of 15.2% was earned (H1 2020 2.6%). Q2 saw significantly better conditions than Q1, driven by Japan and France, and management has increased FY 2021 adj. PBT guidance from £15-19m to £21- ....