Photo-Me International 1H Pretax Profit Rose as Costs Fell; Sees FY 2022 Revenue Growth

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By Anthony O. Goriainoff

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Photo-Me International PLC said pretax profit for the first half of fiscal 2022 rose after it booked lower costs, and that it expects revenue growth of at least 20% for the fiscal year.

The London-listed company, which provides photo-booth, printing and laundry equipment, said that for the six months ended April 30, pretax profit was 19.9 million pounds ($23.8 million) compared with GBP12.0 million for the first half of fiscal 2021 .

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Adjusted pretax profit, which strips out exceptional and other one-off items, rose 24% to GBP16 million.

Earnings before interest, taxes, depreciation and amortization–excluding associates–was GBP40.2 million compared with GBP28.7 million the year before.

Revenue rose to GBP115.3 million from GBP94.6 million. The company said this was mostly due to the easing of coronavirus-related restrictions across its markets and increased demand for passports and other official documentation.

Photo-Me said that for the year ending Oct. 30 it expects Ebitda to be in the GBP79 million-GBP84 million range, assuming social-restriction measures aren’t redeployed in its key markets.

The company also said that it expects adjusted pretax profit for the fiscal year to be in the GBP47 million-GBP50 million range.

Write to Anthony O. Goriainoff at [email protected]

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Credit: www.marketwatch.com /

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