PhotoMe snaps back into the black

PHOTO booth firm Photo-Me International yesterday outlined plans to "re-energise" the business as it swung back into the black and recovered after a £500,000 fine from the Financial Services Authority.

By The Newsroom

Published 7th Jul 2010, 15:52 BST

Updated 7th Jul 2010, 22:35 BST

The group made a pre-tax profit of 9.3 million in the year to 30 April compared with a loss of 5m in the previous 12 months, with sales up 5.7 per cent and 8m of surplus cash at the year-end replacing net debt of 23.5m.

Photo-Me said it was working to drive up revenues, including the roll-out of Photobook Makers, offering five-minute digital print albums, as well as developing "futuristic" and 3D-capable booths.

The company was fined by the regulator last month for allowing a false market to develop in its shares by not communicating negative trading information for 44 days in 2007.