Updates

Me Group - Wash.ME divisional profit up 39%

November 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

ME’s H1 to end April shows sales growth of 25% to £144m with pretax profit up 37% to £27m and earnings per share of 5.3p. Despite a flat number of units in operation within Photo.ME (the largest division at 58% of sales), divisional revenues climbed 25% to £84m and EBITDA by 26% to £30m (35% margin). This was driven by a climb in the ARPU per machine (+27% to £6,152) through a combination of price increases and higher activity levels across core European markets while activity levels in Japan and China also continued to recover after pandemic related restrictions. The group is planning to rollout 1,000 of its next generation machines this year climbing to 3,000 next year. Since the period end, ME has paid £5.5m for FujiFil ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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