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Photo-Me

July 2004

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:
  • 106p
The shares had a very good month, largely driven by the results for the year to 30 April.  Pretax profit was £21.3m for eps of 4.0p. Sales lifted by 17% to £220m. There was a positive cash inflow from operating activities of a whopping £33.4m, which after capital expenditure of £21m (now far lower than depreciation of £29.9m), resulted in a net cash position of £2.9m. And cash generation looks set to grow even further given that the cash generative photobooth side is now being supplemented with cash from the profitable manufacturing division.Turnover in the photobooth side fell 6% to £141m (64% of total turnover) but it remains a terrific cash cow.  The contribution to profits wa ...

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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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