Updates

Me Group - Trading ahead of forecast

December 2022

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 (formerly Photo-Me) said it has confirmed further strong trading momentum in H2 and it now expects the full year to come in “well ahead” of guidance. The Photobooth side has benefited from price increases and a return of travel related spend (c.35% of Photobooth revenues). Meanwhile, rollout of Revolution laundry machines in Europe and expansion of Feed.ME fresh fruit juice machines in Japan continues. Net cash at the end of October after paying £25.7m in dividends was £38.2m. In light of the statement, broker Canaccord upgraded its eps estimates by 12%/21%/23% for the years FY’22-’24 to 11.2p, 13.1p and 13.9p, respectively. Tipped in January ‘22 at 67p, it seems certain to become a doubler in due course. Keep on buy list.< ...

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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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