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Photo-Me - Cash pile goes to £51.1m

January 2012

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:
  • 52p
Photo-Me  has reported an excellent set of results for its seasonally stronger first half to end October. Overall, sales were down by 2% to £115.6m but adjusted pretax profit was up by almost 26% to £17.6m, almost matching the performance in the whole of last year. Earnings per share were up 39% to 3.2p. Net cash at the period end was £51.1m (14p a share). When we spoke to finance director Françoise Coutaz-Replan about why cash was “only up £10m in six months† she said it was largely due to tax, working capital and the rising dividends. Most companies would give their eye teeth to have this kind of cashflow and as a measure of confidence, the interim dividend rises again by 25% to 1.25p.The swing factor to these ...

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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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