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Photo-Me restructures in Japan

Photo-Me restructures in Japan

Photo-Me International (PHTM) is trying to get its Japanese business back on the road to recovery. The company spent £1.2m during the first half of the financial year restructuring its photobooth operations there, moving machines to better locations or removing them entirely. Strip out restructuring costs and sales in Asia rose 14.5 per cent to £2.7m, but include it and this figure adjusted to a 3 per cent decline. Japan is expected to remain a "highly competitive" market, and the full restructuring bill is expected to be closer to £2m by the year-end. That said, the introduction of new low-cost machines should improve future profitability.

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