Business
Promotion into the FTSE 250 Index
Promotion into the FTSE 250 Index.
About this update from Me Group International Plc
[{"type":"text","content":"\n\n \n \n \n \n \n\n\n19 June 2023\n \nME Group International plc\n(\"ME Group\", the \"Group\" or the \"Company\")\n \nPromotion into the FTSE 250 Index\n \nThe Board of ME Group (LON: MEGP), the instant-service equipment group, is delighted to announce that the Company has been included as a constituent of the FTSE 250 Index, with effect from the start of trading today, Monday 19 June 2023.\n \nThe Group was listed on the London Stock Exchange in 1962 and provided photobooth and photo ID services for official documentation such as passports and driving licences (services which it still provides today). Over the past 60 years, the Company has concentrated on diversifying its services and markets, underpinned by a key focus on innovation. ME Group now offers market-leading instant-vending equipment and services across four key principal business areas:\n \n· Photo.ME - Photobooths and integrated biometric solutions\n· Wash.ME - Unattended laundry services and launderettes\n· Print.ME - High-quality digital printing kiosks\n· Feed.ME - Vending equipment for the food service market\n \nME Group benefits from a dominant market position, with limited or no competition, in many of the countries in which it operates. Long-standing partnerships with site owners and the utilisation of long-term contracts provide consistent and solid recurring revenue, giving the Company good predictability and visibility on revenue streams. These characteristics are similar to those of an infrastructure business. The Group's predictable and stable cash flows are used to fund growth through product innovation and to deliver value to shareholders through growth and dividends.\n \n \nCommenting on the Company's entry into the FTSE 250 Index, Serge Crasnianski, CEO & Deputy Chairman said:\n \n\"ME Group's return to the FTSE 250 Index is a momentous corporate milestone. It vindicates the journey that we have been on to develop the Group through technological innovation aimed at expanding and diversifying our operations. This allows us to bring evermore cutting-edge automated self-service solutions to consumers, giving our customers an improve...