Devaluation helps boost Photo-Me's results
Tuesday 19 January 1993
The figure included a foreign exchange windfall of pounds 1.3m because of sterling's devaluation, but operating profits were also well ahead at pounds 16.2m ( pounds 14.5m).
David Miller, group managing director, said he expected a similar boost from foreign exchange earnings in the second half. Signs of recovery worldwide made him confident that Photo-Me's underlying growth would continue.
Turnover increased pounds 10m to pounds 72m - Photo-Me has now installed 18,000 booths worldwide, 2,400 of which are in the UK.
Mr Miller said trading conditions in the UK were still difficult - the drop-off in foreign holidays particularly hit turnover. Progess in Eastern Europe slowed but Europe remained Photo-Me's biggest growth area. Novelty services such as booths where customers could be pictured with celebrity backdrops were making a valuable contribution, although they had yet to realise their full potential.
Earnings per share were 15 per cent higher at 10.76p. The interim dividend rose 8 per cent to 1.4p.
- 1 Fifty Shades of Grey trailer released: First look at Jamie Dornan as Christian Grey
- 2 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 3 50 books for students to read this summer: From Ernest Hemingway to Gillian Flynn
- 4 Students offered grants if they tweet pro-Israeli propaganda
- 5 Rebecca Hall on her film career so far: ‘I’ve played too many repressed neurotics’
Israel-Gaza conflict: Israeli targeting policy under scrutiny after shellfire hits a mother and child, a school full of refugees and a doctor’s home
Peaches Geldof: Her final day – and her fatal decision
Students offered grants if they tweet pro-Israeli propaganda
Iraq crisis: Isis orders Mosul shop keepers to cover mannequins
Israel-Gaza conflict: Israel may have committed war crimes, says UN human rights chief
Malaysia Airlines MH17 crash: Vladimir Putin is given 'one last chance' to end hostilities in Ukraine
The 'scroungers’ fight back: The welfare claimants battling to alter stereotypes
The truth about conspiracy theories is that some require considering
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Malaysia Airlines MH17 crash: Ukrainian military jet was flying close to passenger plane before it was shot down, says Russian officer
Malaysia Airlines MH17 crash: Massive rise in sale of British arms to Russia
iJobs Money & Business
£60000 per annum: Harrington Starr: Trade Desk Specialist (Linux, Windows, FIX...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£70000 - £90000 per annum + Job Satisfaction: Harrington Starr: Project Manage...
£300 - £350 per day: Harrington Starr: C#.NET Developer C#, WPF,BLL,MVVM, SOA...