Business
Trading Statement and profit forecast update
Trading Statement and profit forecast update.
About this update from Me Group International Plc
[{"type":"text","content":"\n \nRNS Number : 2246Q Photo-Me International PLC 26 February 2016 \n\n26th February 2016\n \nPhoto-Me International plc\n(\"Photo-Me\" or the \"Group\")\n \nProfit forecast update and PMI innovation supporting identification securitisation\n \nFurther to its trading update of 8th January 2016, Photo-Me is pleased to confirm that trading in Japan during January remained strong, supported by the strong start of the \"My Number\" programme . For Photo-Me as a whole, Q3 turnover (at reported rates) was 11% higher with profits increased by 90%, compared to the same period last year. \n \nThe much better than expected performance in Japan coupled with the year-to-date performance in the rest of the business - where laundry continues to produce strong results -leads the Board to conclude that reported pre-tax profits for the year ending 30th April 2016 will be in excess of £40 million. If the Japanese business continues its strong performance in the final quarter, the eventual outturn for the year is likely to be in excess of this updated projection. \n \n \nPMI innovation supporting identification securitisation\n \nPhoto-Me has over 22,000 photobooths worldwide and these booths are leading-edge in terms of automation and high quality facial image capture. Governments however, face an increasing challenge to implement secure ID systems using technologies like biometrics and 3D, whilst at the same time complying with the latest standards of identity assurance and privacy protection. To meet these requirements, Photo-Me has a number of initiatives underway to introduce the next generation of secure ID technology into its booths and is pleased to announce the commencement of a major initiative in France.\n \nIn 2013, the French Government created a new format driving license incorporating holographic design and a machine readable zone (similar to passports). Photomaton, the Group's French subsidiary has now obtained the first agreement with ANTS (National Agency of Secure Documents) to allow the delivery of a digitized e-photo and signature, fully compliant with the new requirements. This document is sent from the photobooths via a secure server. \n \nAll of Photo-Me's French photobooths - totalling 7,800 -will be upgraded and capable of delivering this service and the new connec...