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Instant-service equipment group Photo-Me International upgraded its outlook on annual profit and revenue as better than expected trading momentum in May, June and July continued in the fourth quarter of the financial year ended 31 October 2021.
For the financial year ended 31 October 2021, revenue would be 'slightly ahead' of previous expectations of approximately £210 million, and adjusted pre-tax profit would come in towards the upper end of previous expectations of between £25 million and £30 million, the company said.
The performance was driven by a continued recovery in photobooth activity and a 'strong' Laundry performance,' the company said.
'The group has continued to perform strongly over recent months, despite ongoing macro-economic challenges. Most of its key markets have recovered well and business activity is returning to pre-pandemic levels.
The group would publish its results for the 12 months ended 31 October 2021 on Wednesday 23 February 2021.