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.

This seems the norm over lasr 2/3 months Profits up price 'down'!!!!!
Nowt so Queer as the market or M/Makers!...............

share price subject to profit taking up over 30 per cent in 2 weeks to fast to soon.

Loads of news on these this morning.

Here is one that coaught my eye............

LONDON (AFX) - Shares in Photo-Me International were again on offer amid persistent talk that Schroder Investment Management, the photo booth operator's largest shareholder, is attempting to offload 20 mln shares, or 5.5 pct of the equity.

Schroder Investment sold 500,000 shares last month, retaining 16.9 pct. However, some traders think it unlikely to sell again before next month's half-yearly numbers, which are thought to be impressive.

Photo-Me shares were 2-1/2 pence adrift at 97-1/2 by 8.05 am.

Loads of news on these this morning.

these rumours did the rounds late 2003,no prizes for who bought more when price dropped!

Currently 85p!


ROUNDUP Photo-Me sees earnings well below expectations, shares slump


LONDON 12/1/2006 (AFX) - Photo-Me International PLC posted a 10 pct decline in first-half profit and warned full-year earnings will fall well short of market expectations after customers put off purchasing digital photo-processing machines.

Shares in the British company, which is the world's biggest photo-booth operator, slumped as much as 35 pct to a two-and-a-half-year nadir.

Photo-Me said operating profit declined to 16.5 mln stg in the six months to Oct 31 from 18.4 mln, on revenues down 6 pct to 108.5 mln.

Pretax profit for the year to April 30, stripping out a one-off credit, will be 10-15 pct below last year's record level, up to a third less than analysts' had expected.

"We're looking at some big downgrades in profit forecasts for this year and next... I think it's going to take a long time for the stock to get back up to where it was," said Seymour Pierce analyst Charles Peacock.

He has a 'buy' rating on the shares but says that is under review for a possible downgrade.

Chief executive Serge Crasnianski said in a statement: "Since September, the expected recovery from the poor trading by PMI's mini-lab manufacturing activity has been delayed and is only now beginning, with less than four months of the year outstanding."

Chairman Vernon Sankey later said in an interview that the full-year performance will be further hurt by delays in the supply of equipment after a Polish sub-contractor struggled to source the necessary components.

Photo-Me said the the company would not be able to supply leading US drugstore chain CVS Pharmacy with equipment this fiscal year, effectively wiping 7 mln stg of the bottom line.

With the company facing an order backlog as a result, and earnings starting from a lower base than hitherto expected, profit will miss expectations the following year, too.

Manufacturing division earnings sank 72 pct to 2.6 mln stg on turnover down 27 pct to 29 mln, amid "extremely weak" global demand for mini-lab processing machines.

The company said some major supermarket and drugstore chains had deferred capital expenditure programmes since they were still operating substantial quantities of analogue machines which were not yet fully depreciated.

Secondly, the expanded range of digital printing options open to consumers had led to a price war in the market for digital prints prompting potential customers to await the introduction of the next generation of equipment.

By 12.18 pm, Photo-Me shares were trading 31.25 pence, or 26 pct, adrift at 87, valuing the business at 317 mln stg.

Sankey, who said the market had reacted in "knee-jerk" fashion, defended the decision not to inform investors of the problems at an earlier stage.

"In September we were very confident we could deliver it (the CVS contract), and even in early December we felt we had a fighting chance. It was only over the course of December the issues started to manifest themselves more fully."

He expressed confidence the downturn will prove to be temporary.

Profit at the company's main vending arm, which operates 33,000 photo kiosks in 20 countries, jumped 38 pct to 16.2 mln stg on sales up 5 pct to 79.5 mln.

Earnings were boosted after the company installed extra machines in France and the UK, its two leading markets, and after its struggling Japanese business cut costs.

Photo-Me reiterated that it envisages the French government's introduction of a new national health photo-identification card will generate a need for 48 mln replacement cards.

But the benefit is likely to be felt in late, rather than early, 2006.

Net profit rose 30 pct to 14.5 mln stg after the company took a one-off credit of 8.7 mln stg following the receipt of an insurance payout, while diluted earnings per share climbed 30 pct to 3.93 pence.

The company is proposing a 1 pence per share interim dividend, up 25 pct.

I am not surprised in the fall.
I am not a holder and never will be.
Max speilman will take your passport
photos and if they do not match the criteria
then they will keep taking them until
they do FREE of charge.
Lots of people don't like using machines.
Dragons den- umbrellas from vending machines?
I rest my case.

It is nice to find a coy where so few are interested in posting, always a good sign, there are even people like "Ted1" around who are public spirited enough to spend time to stop naive people like me from wasting my cash though I did not quite understand his positing---ted this is a cash machine operation, over the worst...increased div...mini labs must be a winner long term...shall probably buy more today if price does not rise too much.

Good luck to all fellow believers....Bill

down 9% today at 63p with the market reboundoing. wats goin on ? bad news round the corner

got it. RNS an hour ago to say that there is sufficient level of interest to proceed with the disposal of the vending machine division.
Lets hope there is some sp uplift.

From The TimesAugust 25, 2007

Activists seek to deny Photo-Me pair chance of a dignified exitMiles Costello
Two executives at the helm of Photo-Me International caved in yesterday to demands by a pair of rebel shareholders and agreed to quit the operator of British passport photo booths, only to have the terms of their departure rejected.

Vernon Sankey, the chairman, and Serge Crasnianski, the chief executive, agreed to go voluntarily after the activist funds Principle Capital and Cycladic called an emergency shareholder vote to evict them by force.

Quite frankly, if you are faced with this sort of lack of confidence, whatever the rights and wrongs, you have to do something, Mr Sankey told The Times. It becomes untenable.

As they tried to stage a dignified retreat from the fray, Photo-Me outlined several proposals with a view to agreeing an early solution and reducing damaging uncertainty.

Mr Sankey said that he would not seek reelection at the companys annual meeting in mid-October. Mr Crasnianski, 65, will retire, leaving as soon as the sale completes and a successor is in place.

The company is trying to sell its vending division, which includes 21,000 photo booths, as part of a strategic review. It could be worth as much as 250 million and would prompt a substantial return of capital to shareholders.

However, in a show of defiance and with the weight of more than 50 per cent of shareholders behind them, Principle and Cycladic rejected the plan outright and urged the two men to resign immediately.

This will save the company the expense of calling an extraordinary general meeting, prevent any disruption to the strategic review and allow the board to make a decision about the sale of the vending division that can be supported by shareholders, they said.

Principle and Cycladic have enough support to push through their resolutions at an emergency meeting. They reiterated their call of earlier this week for Martin Reavley, the senior independent director, to be made interim chairman and given the task of finding a new chief executive.

Mr Sankey described Principles demands that Mr Crasnianski resign immediately as catastrophic lunacy and barmy. To have him resign with immediate effect is the most ridiculous thing for value creation. The board could not possibly recommend it. You dont want to leave a company like this leaderless, he said.

The Photo-Me chairman also fiercely defended the sale process, being handled by Lazard. I dont understand why anything should be criticised. Weve been working flat out on the disposal process. The fact is that Principle dont like it because whatever happens they feel the right price wont be achieved, he said.

Mr Sankey who said that he had offered to resign immediately yesterday said before the rebels rejected his offer that he did not expect them to agree: I think they will think it is just another fudge.

Photo-Me proposed a committee under Roger Partington, independent director, to be responsible for finding a new chairman and chief executive. A further committee, led by David Young, nonexecutive director, could take charge of an ongoing strategic review in the meantime, Photo-Me said. It made no mention of Mr Reavley, who Mr Sankey said had absented himself from any vote at yesterdays board meeting that could have been compromising.

Photo-Me declined to comment further, beyond its earlier statement of yesterday, but it is understood that Mr Sankey and Mr Crasnianski retain the support of the board.

Photo-Me plunges on FY profits warning - AFX

LONDON (Thomson Financial) - Photo-Me topped the list of small-cap fallers, plunging 15 pence to just 35, after the board warned it now believes the results for the current year will fall substantially short of market expectations.

This shortfall is mainly in the area of manufacturing, both the KIS minilab business and the Imaging Solutions wholesale lab business, reflecting the difficult market conditions experienced.

tf.TFN-Europe_newsdesk@thomson.com

Nice chart .... 15p anyone ?

Photo-Me warns again - MoneyAM

Photo-Me International has today reported a 39% slump in first half underlying pretax profit.

The digital imaging company warned on the full year outturn for the second time in two months.

'When preparing the interim financial statements, the group also reviewed its estimates for the full year to April 30th 2008. Following this review, the board now believes that the group is unlikely to be profitable in the second half, which is traditionally its weaker half,' it said.

Photo-Me had warned on November 29th that its results for the current year would fall 'substantially short' of then market expectations.

It said the shortfall would mainly be in the manufacturing division, both the KIS minilab business and the Imaging Solutions wholesale lab business, reflecting difficult market conditions.

Photo-Me abandoned the sale of its vending machine business in September.

For the six months to October 31st 2007 the group made a profit before tax and exceptional items on continuing businesses of £7.3m, down from £11.9m in the same period last year, on revenue down 3% at £107.1m.

Photo-Me said the profit fall reflects £2.2m of increased depreciation and £1.5m of adverse movement in foreign exchange differences.

Reported pretax profit was £1.6m, down from £12.9m last time.

Operating profit in the vending division fell 21% to £10.9m on revenue down 1% to £79.1m.

The manufacturing division made a pre-exceptional operating loss of £0.5m versus a profit of £1m last time on revenue down 8% at £28m, reflecting a reduced average selling price for minilabs and reduced unit sales for wholesale labs.

However, the group did maintain its interim dividend at 1p and said it intends to resume a share buy-back programme when its distributable reserves permit, which it expects to be in February 2008.

The group's board has seen several resignations this year after activist shareholders Principle Capital and Cycladic Capital requisitioned extraordinary general meetings to vote directors off.

Serge Crasnianski, Photo-Me's longstanding CEO and 19.5% shareholder, finally stepped down on December 3rd. He was succeeded by Thierry Barel last week.

New article, click HERE

I suspect that having an active CEO with a large % stockholding is often NOT good for a business that's in decline. When it's on a forwwards wave it's good, because he can get things done quickly, being fleet of foot etc.

However, in a downturn the CEO will be convinced he's right .... and the rot continues! The new CEO has his work cut out ...give him time, eh?

Apart from the prospect of ID cards, I can't see why this business isn't doing moderately well. Their booths should have a modest turnover and folk always need ID pics for all sorts of things.
However, it may be they thought ID cards would be the big money-spinner and it's far from clear this will happen, at least at street-level.

Meanwhile they are stuck with increasing rents and service costs, I guess.

The title of this thread is a warning to all newbies about the dangers of being sucked in with an over ambitious expectations.

Times change Kivver ... think it was a buy when the thread was started.

Now its got 15p written all over it.

I last bought this stock in 2002 at about 30p and it was a nice multi bagger for me. Not sure I want to get back in yet however. Watching.

Greyhound
re - Not sure I want to get back in yet however. Watching.

at your peril, director and ex-director buying millions announced today


Photo-Me says former directors David, Wahl lift stakes in company

LONDON (Thomson Financial) - Photo-Me International PLC said its former
directors Dan David and Philippe Wahl lifted their stakes in the company to
total of 10.2 pct and 5.23 pct respectively on Jan 4.
The digital imaging group said David has a non-beneficial interest in Dan
David Foundation, Vidacos Nominees Ltd and Managest Ltd, through which he bought
stakes of 9.4 pct, 0.2 pct, and 0.6 pct respectively, in Photo-Me.
Prior to the transaction, David held 2.90 mln shares, while Wahl held 10.72
mln shares in the company.
Following the transaction, David now holds 36.78 mln shares and Wahl holds
around 18.80 mln shares in the company.
On Jan 2, the company said David resigned as non-executive director on Dec
31, 2007, and now intends to dedicate his time to the management of his Italian
company.