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ME Group - Results whack ball out of the park

March 2024

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.

A truly stunning performance from MEGP for the year to end October, driven by contingent growth within the Revolution Laundry business, which has grown its operating profit to become two thirds of the photo-booth side. Sales overall were up 15% to £298m, pretax profit was up 26% to £67.1m and eps +30% to 13.3p. With a high depreciation on its estate, it generated £104m to leave net cash after capex and dividends at £34m. All this isn't to say the photobooth side is lagging. The period saw the number of machines boosted by 3.8k to 30.7k from the FUJIFILM acquisition but underlying this there have been 800 machines replaced with next-generation ones (capex on booths was £8.9m). CFO Stephane Gibon says 3k will have been replaced by t ...

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Good Energy

Fisher (James)

ME Group - Cavendish initiates with 350p price target (September 2024)

ME Group (July 2024)

ME Group - Revolution rollout set to climb from 180 to 250 machines a month (January 2024)

Me Group - Wash.ME divisional profit up 39% (November 2023)

Me Group (June 2023)

ME Group - Revolution rollout expands to 80-90 units (April 2023)

Me Group - Trading ahead of forecast (December 2022)

Me Group - Moves into food vending (January 2022)

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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