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Photo-Me - 14p-a-share cash underpins dirt cheap valuation

May 2012

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:
  • 45.5p
In an update covering the period 1 November to 9 March Photo-Me said trading has remained in-line. In the operations (photo-booths) side, sales are broadly level with the previous year while profitability has significantly improved with a good performance in France and continued recovery in Japan, reflecting good cost control and operational improvements. Meanwhile, the small sales and servicing business has not experienced any pick-up but after some restructuring will break even this year.In spite of paying out £7.2m in dividends, net cash is expected to have climbed above the £51.1m reported at the half-year. Hardman has left forecasts unchanged, leaving the shares ridiculously cheap at just 2.6 times cash earnings ...

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Photo-Me - Surprise profit warning (February 2006)
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Photo-Me - Gains have reached 317%! (August 2003)
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Photo-Me International - Exploding demand for minilabs (May 2003)
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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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