ME Group International PLC on Thursday said it expects to report a mixed outcome to its recently ended financial year, citing stronger demand in the second half.

The Epsom, Surrey-based company provides instant-service equipment such as photo booths, laundry units and digital printing kiosks. It was formerly known as Photo-Me International.

For the financial year that ended October 31, revenue is estimated to be at least £298 million, up 15% from £259.8 million the year before, but below ME Group’s prior guidance of £300 million and £320 million.

More positively, earnings before interest, tax, depreciation and amortisation is expected to be ‘significantly above’ £100 million, compared to £92.2 million in financial 2022.

Pretax profit is expected to be no less than £67 million, the top end of previous guidance of £64 million and £67 million. In financial 2022, pretax profit was £53.4 million.

Me Group will publish annual results in February.

‘Trading with the Asian market continued to remain more subdued due to pandemic restrictions remaining in place for longer than in the group‘s other operating regions,’ ME Group said.

ME Group shares were 2.0% lower at 131.00 pence each on Thursday morning in London.

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