Updates

ME Group - Profit at top end of guidance

January 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.

ME expects to deliver record pretax profit, hitting the top end of its guidance for the year ended October ‘23. Berenberg said this implies pretax of c. £40m in the second half (up by 52% year-on-year) and 5% ahead of its estimates. Good strategic progress was made with 547 next generation multi service photo booths installed to date, initially focused in France. New features include “mobile to print”, user personalisation services using AI and photo filters with more features expected shortly. It’s currently installing 180 units per month and aiming to increase to 250 during 2024. During the period it added scale to its Japan operation through the acquisition of 3,548 photo booths from FUJIFILM for £5.5m and taking its est ...

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