December 09, 2009

Photo Kiosks - Photo-Me Declines on "Hopeful" Forecast

Dec. 9 (Bloomberg) -- Photo-Me International Plc, a U.K. operator of photo booths, fell the most since February after saying it is “hopeful, rather than confident” of making a profit in the second half.

source on Bloomberg

Photo-Me declined 13 percent in London trading today. “The second half historically tends to be much the weaker of the two, in particular for Operations, and market conditions remain extremely difficult,” the Bookham, England-based company said in a Regulatory News Service statement today.

Photo-Me operates amusement machines and digital printing kiosks as well as photo booths. Net income attributable to owners of the parent for the six months ended Oct. 31 rose to 8 million pounds ($13 million) up from 1.7 million pounds in the same period a year earlier, the company said in the statement.

Photo-Me will pay an interim dividend of 0.25 pence per share, the first since 2007.

“We will look at the finances of the company and make sure we pay a dividend going forward if we can as well, that’s of course the ambition,” Chairman Hugo Swire said in a phone interview today.

Photo-Me fell 6 pence, to close at 39 pence, giving it a market value of 140.4 million pounds.

To contact the reporter on this story: Ben Martin in London [email protected]

Posted by staff at December 9, 2009 12:35 PM