Photo-Me may beat FY expectations on strong Japan trading

8th Jan 2016 11:21

(ShareCast News) - Picture booth operator Photo-Me International said its full year results are likely to be materially ahead of expectations if trading in Japan continues to be as strong in the remaining four months of the year.The Surrey-based group said trading in Japan in the last two months of 2015 was significantly better than the previous year, with takings up a whopping 90%.As a result, trading there was well ahead of the group's expectations.For the year ended 30 April 2015, Photo-me reported revenues of £177m, down 5% from the previous year. However, underlying pre-tax profit increased 16.3% to £35m.The company will update the market in more detail in its trading update due in late February 2016.At 1130 GMT, shares were up 11% to 164.75p.