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Photo-Me - Earnings forecast lifted by 11% and Finncap sets 86p share price target

July 2011

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:
  • 66p
Results came in ahead with sales of £220m but the mesmerising aspects were that pretax profit and earnings virtually doubled to £18m and 3.7p, respectively - so in fact, Photo-Me has come in well ahead and within a whisker of the numbers that were being forecast for this year. The cash pile grew by £33m to £40.7m and the dividend is hiked by 60% to 2p. EBITDA from continuing operations was up 7.5% to £47.6m. We won't include a full segmental analysis as there isn't much to add to what we said last month. The only keynote was that the company has finally achieved a licence to operate in Beijing, adding to the existing licence in Shanghai. Our guess is that investment in new booths both here and in France where the Starbooth is ...

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Photo-Me - Cluster buying by seven directors (November 2008)
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Photo-Me - Digital kiosks could be big business (February 2004)
Photo-Me - Demand continues to outstrip supply (August 2003)
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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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