Photo-Me hands £7.5m back to shareholders

Photo booth and laundry machine firm Photo-Me has unveiled plans to return £7.5 million to shareholders through a special dividend.

The company, which is sitting on a net cash pile of £67.8m, will make the 2p a share payout on 15 May.

Chief executive Serge Crasnianski also said the firm has completed the shift of production for its Revolution laundry machines from France to Hungary as it seeks to cut costs and ramp up volumes.

Photo-Me is aiming to have about 2,000 laundry machines rolled out by the end of next year.