ME Group International celebrates laundry-boosted trading momentum
ME Group International PLC on Monday said it continues to expect pretax profit for the current financial year to beat last year’s, as ‘record trading momentum’ continued in the first half.
In a trading update, the Surrey, England-based vending machine operator said pretax profit increased by around 14% on-year and revenue by around 2% in the six months that ended April 30, ‘driven by the strong continued performance in our laundry business’.
‘Laundry operations delivered a strong performance’ as revenue grew 13%, the company said. ‘This reflected ongoing demand across all our geographies.’
However, Photobooth revenue decreased by approximately 3.3%, or by 1.1% at constant currency, due to a now-resolved issue with new printers, ME Group said.
Looking forward, the company said it continues to anticipate financial year 2025 pretax profit between £76 million and £80 million‘. This would be 3.5% to 9.0% higher than the £73.4 million it reported for the financial year that ended in October 2024.
ME Group shares were up 1.2% to 217.00 pence each on Monday morning in London.
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