Photo-Me profit warning

Photobooths maker and operator Photo-Me has wasted little time in running back into trouble, as shown in a brief and bloody profit warning.

Morningstar.co.uk Editors 29 November, 2007 | 10:43AM

Photo-Me now believes that the results for the current year will fall substantially short of market expectations. That is in sharp contrast to an anodyne AGM statement last month when the company appeared to be on track to meet hopes that had, admittedly, been reduced after earlier profit warnings.

Today’s statement follows an assessment of management accounts of the principal businesses for the half year to 31 October.

The shortfall is mainly in the area of manufacturing. Both the KIS minilab business and the Imaging Solutions wholesale lab business have been affected by difficult market conditions.

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