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Photo-Me - Rapidly piling up the cash

August 2010

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:
  • 45p
Fabulous full year results from Photo-Me with sales, profits, margins and net cash all ahead. Turnover went up 6% to £222m (flat on constant currency) with a pretax profit of £14m. By operating its highly conservative depreciation policies, cash flow was a mammoth £47m, which helped transform the balance sheet: net cash at the year end was £8.1m compared to debts of £23.5m 12 months ago. As expected a final dividend of 1p has also been declared making a total of 1.25p for the year. On the vending side, there are now 43,850 sites, an increase from 42,600 over the year, of which photobooths represent half. Divisional sales declined 2% to £172m but operating profit rose by 30% to £16.5m as ...

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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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