ME Group
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| Company type | Public limited company |
|---|---|
| LSE: PHTM | |
| Industry | Vending |
| Founded | 1960s |
| Headquarters | Epsom, Surrey, England |
Area served | World wide |
Key people | Serge Crasnianski, (CEO) |
| Website | www |
Photo-Me International plc (LSE: PHTM) based in Epsom, Surrey operates photobooths. It became a public limited company in 1963 and has built operations in several countries including Indonesia, Japan, Philippines, Germany and France in addition to the UK. Although most well known for its photobooths, Photo-Me operates, sells and services a range of instant service equipment.
The Company's shares have been listed on the London Stock Exchange since 1962. In 2007 a shareholder revolt over plans to sell off the vending division forced Vernon Sankey and Serge Crasnianski to resign.[1]
In February 2009 there was a profit warning[2] and in March 2009 chief executive Thierry Barel resigned.[3]
Serge Crasnianski was reappointed to the board as a non-executive director in May 2009. He was subsequently appointed Deputy Chairman and Joint Chief Executive and in May 2010 assumed the role of Chief Executive.
Following his reappointment, a major restructuring was carried out at KIS and the Group after losses of £6.3 million in 2008 and recorded a pre-tax profit of £1.6 million in the year ending April 30, 2009. In the year to April 30, 2010, the Group’s loss-making wholesale photo-processing labs business was sold and pre-tax profits were reported at £14.0 million. Of note was the £31.6 million improvement in the overall cash position such that the net cash on the Balance Sheet was £8.1 million compared to net debt of £23.5 million the previous year.[4]
Canary Wharf in London has installed the company's photo booths but in this case they are ones designed in conjunction with Philippe Stark. [5]
The company has diversified into the laundry business, with a division called 'Revolution'. Revolution is a 24/7 outdoor self-service launderette. This division is trading beyond expectations with 2000 units planned for the end of 2015.[6]
In November 2016 it was announced that the company had bought the photo division of Asda stores, taking over the supermarket's 191 photo centres and 172 self-service kiosks. [7]
The company's chairman, John H. J. Lewis, was knighted by the Honours Committee in the 2019 New Year Honours. Critics noted that Lewis had donated approximately £390,000 to the Conservative Party since 2006.[8]
References
- ^ Photo-Me shares fall after profit warning - Business News, Business - The Independent Archived March 18, 2009, at the Wayback Machine
- ^ http://sellyourphotograph.com/how-to-make-money-with-photography[permanent dead link]
- ^ http://www.h-l.co.uk/shares/security_news/articles/2653207?rq=article&sedol=0848125[dead link]
- ^ "Photo-Me International PLC, UK - Financial Reports". Archived from the original on 2010-10-19. Retrieved 2010-10-27.
- ^ "Photo-Me Booth". Canary Wharf.
- ^ News Team. "Serge Crasnianski, the chief executive of Photo-Me (LON:PHTM)". DirectorsTalk. Archived from the original on 2016-04-05. Retrieved 2016-03-22.
- ^ "Investors Chronicle - News & Tips: Keywords Studios, Photo-Me, HSBC & more".
- ^ "Civil servitude". Private Eye. London: Pressdram Ltd. 11 January 2019.