Me Group interim profits rise as all segments perform well

Me Group posted a jump in interim profit and revenue on Wednesday as it hailed progress across all of its key business areas - photobooth, laundry and digital printing services - and in all of its 19 operating markets.

In the six months to 30 April, pre-tax profit rose 36.7% to £27.2m, on revenue of £143.8m, up 24.7% on the same period a year earlier.

Photo.ME revenue was up 25.4% to £83.9m, driven by demand for photo ID and increased activity across all territories, particularly Continental Europe and Asia Pacific.

Revenues in the Wash.ME segment rose 37% to £37.8m, which the company said was reflected in the growth of its laundry estate - a key focus of investment.

Print.ME revenue was 11.5% higher at £5.8m, with 183 new kiosks deployed in France during the period.

Me Group said full-year results were set to be in line with recently-upgraded expectations.

Chief executive Serge Crasnianski said: "Looking ahead, the board remains confident in the group's growth strategy and strong financial position which provides us with a platform to fund future growth opportunities."