Photo-Me International announces good half-year results

PMI’s Operations business, which comprises the operation of unattended vending equipment, primarily photo booths, digital photo kiosks, photobook makers, amusement machines, business service equipment and laundry machines, recorded sales of Pound Sterling 95.2 million (US-$ 150.8 million/Euro 116.8 million), down from Pound Sterling 97.9 million (US-$ 160 million/Euro 123.9 million) in the same period 2011. The devision’s operating profit, on the other hand, rose by 18 percent.

The company’s Sales and Servicing business (Kis Photo-Me), which comprises the development, manufacture, sale and after-sale servicing of the PMI Operations equipment as well as a range of photo processing equipment and album maker solutions, recorded sales of Pound Sterling 13.2 million (US-$21.1 million/Euro 16.4 million), a decline to 25 percent. The operating profit, however, tripled to Pound Sterling 1.2 million (US-$ 1.9 million/Euro 1.5 million). As part of the restructuring plan, Kis moved a few years ago from their premises in Echirolles, France, which were sold in October 2012, generating a Pound Sterling 2.4 million (US-$ 3.84 million/Euro 3.0 million) profit.

According to a press release, the operating background of the PMI Sales and Servicing division remains difficult, although the group delivered a further 300 Pocket Book Makers to Mitsubishi and 100 Pocket Book Builders to Fujifilm. Sales of the new DKS 4 minilab continue to be restrained by the ongoing weakness in the photographic printing market place, the company added.