AGM Trading Update
Ahead of today’s AGM, Photo-Me have issued a trading update for the five months to the end of September. Trading has been in-line with expectations and the Group is continuing to successfully pursue strategic objectives across all segments as well as re-structuring the Japanese photobooth business in order to position it for a return to growth. The Group remains highly cash generative and even with the dividend held steady in 2019, offers a dividend yield of 8.1%. Our forecasts for FY2019E and FY2020E remain unchanged.