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Tuesday, August 17, 1999 Published at 11:07 GMT 12:07 UK
Business: The Company File
Photo-Me profits jump to £20m
People could soon be surfing the web in photo booths
Photo booth operator Photo-Me International, which aims to bring the Internet to the UK's High Streets and train stations, has announced a 32% jump in profits to £20m in the year to April.
Annual turnover was up 17% at £197.5m, with revenues for the first quarter of the current year an average 18% higher in Photo-Me's key markets of the UK, France and Japan, the company said.
Photo-Me chief executive Serge Crasnianski attributed the results to the firm_s use of new technology, which should continue to support profits.
The group believes that the Internet could double the revenue of conventional booths and this belief has helped support its share price.
About 1,000 multimedia booths are to open from Spring 2000. The first such booth is to be installed in the Millennium Dome at the end of December.
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| Which Online? Editor Alan Stevens says Internet booths may not be what the public wants |
Mr Crasnianski said that 2,500 new photo booths will be installed in the next year, rising to 4,000 in the fiscal year 2001.
Photo-Me also plans to accelerate the roll out of personalised postcard machines. Last year, they installed 800 and they expect to install 1,500 this year.
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The Company File Contents
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