Updates

ME Group

September 2023

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 Group’s results were in line with previous upgrades with sales +25% to £144m and pretax increasing 37% to £27.2m. Eps rose 23% to 5.3p. Net cash fell around £10m to £24m due to capex on new laundry machines and more spares required. The photobooths and biometric ID business grew sales 25% to £84m driven by price rises and increased usage while it now expects to roll out 1,000 next generation photo booths this year rising to 3,000 in both FY’24 and ‘25. In laundry, revenue rose 37% to £37.8m driven by higher usage and a 16% rise in the installed base. Roll-out run rate is currently 50-60 a month, slower than previously targeted due to supply chain issues but it should pick up as these issues abate. Forecast is for ...

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Begbies Traynor

H&T -Pledge book rises 33%

ME Group - New Peel Hunt note has 350p price target (August 2024)

ME Group - Highly profitable laundry business accelerating roll-out (April 2024)

ME Group - Profit at top end of guidance (January 2024)

ME Group - Lifted guidance implies 40%+ PBT uplift (August 2023)

ME Group (April 2023)

ME Group (Photo-Me) - Announces 6.5p special dividend (September 2022)

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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