Photo-Me is a share which is just set to rocket. Please just have a look at this report.

UK’s largest operator of coin operated photo booths.
Previous spectacular growth richly cash generative operation
2000-2001 various issues caused collapse in share price
Issues been resolved but now other opportunities arising as well
Digital photo-processing machine manufacture making most of surge in popularity of digital photography
Largest customer Kodak (supplies the minilabs to the likes of Jessops and Boots)
Orders starting to build could soon lead to 125m turnover in this new part of the business

Photo booths 77% of 2003 forecast turnover (141m of 183m)
Digital Minilabs manufacture 38m

Last 5 years PHTM spent 186m on converting its analogue photo booths to digital
Caused increase in debt 2001
Debt now falling away rapidly as cash flow rises fast
Main areas of operation (75%)are UK, France and Japan
France and Japan highly profitable - UK some completion from Snap Digital (who are operating on possibly unsustainable terms to try and poach customers – may go bust inside 2 years)
UK situation now stabilising

Minilabs is the “big ticket” potential
Forecast to be 23% of 2003 sales
Digital cameras now 40% of all cameras purchased
So far only 5% of 200,000 photo processors have converted machines from analogue to digital
Kodak is world market leader – has 30-40,000 machines in US, UK,Europe up for renewal
Kodak has ordered DKS 1500 machine from PHTM – cheapest most efficient machine on the market.
PHTM expects to increase production of this machine to 200 per month – will at some point sub-contract this to China to cut costs and allow PHTM to concentrate on remaining market leader by developing next generation Digital Minilabs.

Schroders have been buying stock (17.1%)

They are in MI and SCSW portfolios – a 2003 Nap for MI and they say “keep buying” G.

Since Wednesday ( large volume ) is on the way up again and today with hardly any volume finished the best since 58.25p +1.25p

Following the annoucements last week, still dirt cheap here and long overdue a reversal of the late downward trend. A big cash mountain representing a high % of market cap. Great for growth in China.

I agree entirely with your comments, but totally out of market favour.
Bought at 75p and still holding.

Results imminent and the cash keeps coming in - this has to be DIRT cheap, doubling up.

re my post 183,

still holding,

Great day today, doubled my holding on large volume. Roll on the results and keep the cash mountain growing. If the price doesn't adjust fast they'll be ripe for a takeover.

Results this week which should underline the dirt cheap value on Photo-Me. Will be good to get an update on the different areas of business. We know there have been orders coming in for the Photobook product so perhaps we'll learn just how well the different divisions are now performing.

Great results:

Turnover down 1.2%
22% increase in adj op profit driven by strong performance in operations divisions
Ebitda increase by 7.5% to 47.6m
pre tax profit up 95%
Net cash 40m
Increase in divi by 60%
Deginer booths with social network technology
Licence to operate in Beijing


This should create a rocket behind them!

hope so greyhound,

Next port of call 80p?

the fundamentals say that but in this market who knows?

Bursting into life before results tommorow.

PHTM PHOTO ME

Chart looking in good nick
ready for results tomorrow...

52 week breakout..

PHTM Photo Me


Not many brokers covering this
one but here goes........

Date Company Name Broker Rec. Price Old target price New target price Notes

14 Sep Photo-Me... Finncap Corporate 57.13 86.00 - Reiterates
28 Jun Photo-Me... Finncap Corporate 57.13 86.00 86.00 Reiterates
09 Dec Photo-Me... Finncap Corporate 57.13 86.00 86.00 Reiterates
08 Dec Photo-Me... Finncap Corporate 57.13 86.00 86.00 Reiterates
30 Jun Photo-Me... Finncap Corporate 57.13 86.00 86.00 Reiterates

86p SP TARGET.

Brilliant results.....


Operational Highlights



· Pre-tax profit up 17.4% (25.9% in CC) despite revenue decline of 7.1% (2.1% in CC)

· All 3 geographic regions increased profits; individually, Germany, Switzerland and Japan outstanding

· Sales and Servicing division returned to profitability

· Formal launch of new coin-operated laundry machines; strong growth anticipated

· Net cash position of £70 million, an increase of £18.2 million since year end

· Interim dividend increased by 20% to 1.5 pence per share

· Board to consider additional returns to shareholders


http://www.investegate.co.uk/photome-intnl

Outlook

The profitability of the business has improved and cash flow remains strong. In addition, we are about to introduce more widely coin-operated laundry machines, which we believe have substantial potential in the medium-term and will be less impacted by the prevailing economic climate. We look to the future with confidence and we will be considering the options for increasing shareholder returns.



As to the present, as we always point out, the first half is seasonally the stronger for Photo-Me in terms of profits and we expect this certainly to be the case again. However, the Board remains confident of good progress over the year given that the level of profits in the first half broadly matched the outturn for the whole of the previous year.



John Lewis,

Non-Executive Chairman

An absolute BONUS.... didnt see
this one coming....

· Sales and Servicing division returned to profitability

Excelent...........


· Net cash position of £70 million, an increase of £18.2 million since year end

· Interim dividend increased by 20% to 1.5 pence per share

Sorry guys but given the recent rise its fully valued. I also see danger in washing machines. Imho

"One of Photo-Me's great strengths is innovation. After almost three years of testing and trialling in France and Belgium, our new laundry product is ready to be aggressively rolled out. If the results achieved to date are repeated on a much larger scale, we anticipate this product will become a significant contributor to profits within three years"