Photo-Me's UK slump

Photo-Me's UK slump

While its Japanese business returned to profitability in FY2019, Photo-Me International (PHTM) found itself battling challenges closer to home. Economic uncertainty weighed on UK consumer activity, constricting sales at the photobooth and vending company. Sales declined by 17 per cent to £53m while operating profit plunged by 32 per cent to £7.1m. The business-to-business (B2B) division experienced reduced machine sales activity due to delays in order decisions and this weakness translated into a £9.7m adverse impact on overall group revenue.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now