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Photo-Me - Debt continues to fall

April 2009

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.

  • Epic Code:
  • PHTM
  • Price:
  • 17p
Photo-Me has issued a trading update for Q3 covering the months November to January, traditionally the seasonally quiet quarter and as expected it has incurred a pretax loss. Notwithstanding that, cashflows remain substantial and were disguised by the high depreciation charge and overall net debt reduced by almost £16m to £30m during the nine months.The company said that for the period, the vending division made a substantial profit and also that “encouraging progress has been made in France in protecting the Group's ID photography business from the threat posed by on-site photography in connection with the centralisation of biometric data.†The sales and servicing side remains lossmaking, reflecting the difficulties experien ...

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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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