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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.

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