Photo-Me International PLC Statement re Business Update (5085G)
March 17 2020 - 11:10AM
UK Regulatory
TIDMPHTM
RNS Number : 5085G
Photo-Me International PLC
17 March 2020
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
17 March 2020
Photo-Me International plc
("Photo-Me" or "the Group")
Business Update
Photo-Me International plc (PHTM.L), the instant-service
equipment group, provides the following business update following
recent COVID-19 developments.
The scale of the spread of COVID-19 is impacting all our end
markets. The recent actions taken by governments to control the
outbreak has significantly disrupted our operations, with field
engineers unable to visit machines in many locations, whilst we
have also seen reduced customer activity across all of our vending
estate. We continue to work to minimise disruption to our business
where possible.
The situation is changing rapidly and there remains continued
uncertainty as to the extent and duration of the virus across our
markets. Whilst COVID-19 will have a significant impact on the
financial performance of the Group, it remains too early to
quantify the likely overall impact on the Group at this time. The
Board can confirm that the Group traded in line with the Board's
expectations for the period from the start of the current financial
year to the end of February 2020.
The health and the safety of our staff and stakeholders across
the Group remains of the utmost importance to us. We have taken
stringent measures, first in our Asia offices and then rapidly in
our other offices in Europe and we continue to follow the guidance
of governments, World Health Organisation and other relevant
authorities across our operations.
The Group has a strong balance sheet and continues to review its
cash position closely, including its near-term dividend policy, and
is taking proactive and appropriate measures to conserve its cash
position. The Group will continue to closely monitor developments
regarding COVID-19 and its likely impact and will make further
announcements as and when appropriate.
ENQUIRIES
Photo-Me International plc +44 (0) 1372 453 399 / ir@photo-me.co.uk
Serge Crasnianski, CEO
Stéphane Gibon, CFO
Hudson Sandler +44 (0) 20 7796 4133
Wendy Baker/ Emily Dillon/ Nick photo-me@hudsonsandler.com
Moore
NOTES TO EDITORS
Photo-Me International plc (LSE: PHTM) operates, sells and
services a wide range of instant-service vending equipment,
primarily aimed at the consumer market.
The Group operates approximately 46,900 vending units across 18
countries and its technological innovation is focused on three
principal areas:
-- Identification: photobooths and integrated biometric identification solutions
-- Laundry: unattended laundry services, launderettes, B2B services
-- Kiosks: high-quality digital printing
The Group entered the self-service fresh fruit juice equipment
market in April 2019, with the acquisition of Sempa. T his will
become a key business area ('KIS Food') alongside Identification,
Laundry and Kiosks, and will be a significant part of the Group's
future growth strategy.
In addition, the Group operates vending equipment such as
children's rides, amusement machines and business service
equipment.
Whilst the Group both sells and services this equipment, the
vast majority of units are operated and maintained by Photo-Me.
Photo-Me pays the site owner a commission based on turnover, which
varies depending on the country and location of the machine.
The Group has built long-term relationships with major site
owners and its equipment is generally sited in prime locations in
areas of high footfall such as supermarkets, shopping malls
(indoors and outdoors) and public transport venues. The equipment
is maintained and serviced by an established network of 700 field
engineers.
The Company's shares have been listed on the London Stock
Exchange since 1962.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDFLFIRVTIDLII
(END) Dow Jones Newswires
March 17, 2020 12:10 ET (16:10 GMT)
Me (LSE:MEGP)
Historical Stock Chart
From Apr 2024 to May 2024
Me (LSE:MEGP)
Historical Stock Chart
From May 2023 to May 2024