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Photo-Me - Broker in abeyance with no upgrade despite favourable Fx

November 2016

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:
  • 153p
Photo-Me has gone ex the 6.2p dividend but should nevertheless be trading higher. The AGM was told that sales in the first four months have improved by 18%.Of course, if you are adding more machines you are going to raise the depreciation charge, which is going to lower the pretax profit line (which is said to be 14% higher) but cash eps will be rising at a terrific rate.  There is also a favourable currency tailwind with the pound down almost 20% since Brexit. It seems broker Finncap is still in abeyance as the analyst says he isn’t upgrading despite noting that “half of H1 profits are traditionally achieved in September and October.” At least they have a 185p target. A 13-bagger or so since the early ...

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Photo-Me - Cash pile goes to £51.1m (January 2012)
Photo-Me - Bumper year in sight? (October 2011)
Photo-Me - Earnings forecast lifted by 11% and Finncap sets 86p share price target (July 2011)
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Photo-Me - Back to barely 3x cash earnings (April 2011)
Photo-Me - OEM orders for 5,000 Photobook Maker machines (January 2011)
Photo-Me - Planning significant increase in dividend (December 2010)
Photo-Me - Trading ahead of expectations; sixth consecutive rise in forecasts (October 2010)
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Photo-Me - Trading at 2.2x forecast cash earnings (July 2010)
Photo-Me - To exceed market forecasts (April 2010)
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Photo-Me - Moves to net cash position (December 2009)
Photo Me - New biometric stations as EU launches biometric passports (September 2009)
Photo-Me - Wholesale lab business put up for sale (July 2009)
Photo-Me - Debt continues to fall (April 2009)
Photo-Me - Former chief executive adds to stake (March 2009)
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Photo-Me - Debts reduce (January 2009)
Photo-Me - Cluster buying by seven directors (November 2008)
Photo-Me (February 2006)
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Photo-Me (July 2004)
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Photo-Me - Digital kiosks could be big business (February 2004)
Photo-Me - Demand continues to outstrip supply (August 2003)
Photo-Me - £10m profit expected next year (February 2003)
Photo-Me - Delivering Digilab orders to Kodak (January 2003)
Photo-Me - Slight delay to DKS2 minilab but going well (November 2002)
Photo-Me - Still terrific cashflow (May 2002)

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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