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Highlights

  • Group profit before tax up approximately 14% year-on-year; revenue up 2%

  • Laundry segment drives growth, with 550 net new machines installed in H1 2025

  • Net cash position increases 69.1% to £36.2 million

ME Group International plc (LON:MEGP) has released a trading update for the six months ended 30 April 2025 (H1 2025), reporting continued revenue and profit growth driven primarily by its laundry operations.

The Group recorded a profit before tax increase of approximately 14%, and revenue growth of approximately 2% compared to the same period last year. At constant currency, profit before tax rose approximately 17%, and revenue grew approximately 4%. Adjusting for the H1 2024 contribution from SEMPA SAS, which was divested in May 2024, revenue was up 3.5% year-on-year, or 6% at constant currency.

Segment Performance

The laundry business recorded 13.3% increase in revenue (or 15.7% at constant currency) across all operating geographies. The Group installed 550 net new Revolution laundry machines during H1 2025, with a focus on expanding in France and the UK. ME Group remains on schedule to install a total of 1,200 net new laundry units in FY 2025.

In contrast, photobooth revenue declined by approximately 3.3% (down 1.1% at constant currency), which the Group attributed to a technical issue with new printers. This issue, which has now been resolved, caused an estimated 2% reduction in photobooth revenue during the first half. Compensation was received from the supplier. Despite this, the Group is on track to install 3,200 next-generation photobooths across target markets in FY 2025 as part of its upgrade strategy.

The Group also expanded its operations through the acquisition of a photo ID competitor in Belgium in March 2025. This transaction added 116 profitable photobooths to ME Group’s portfolio and supports its strategic goal of growing within existing and new markets. The acquisition was funded from existing cash reserves.

Financial Position

As of 30 April 2025, ME Group reported a net cash position of £36.2 million, up 69.1% from £21.7 million at the end of H1 2024. The Group noted that its business model continues to generate predictable revenue and strong cash flow.

Outlook

The Group anticipates further performance gains in the second half of FY 2025. Despite minor challenges in the photobooth segment, the Group expects to deliver a full-year profit before tax in the range of £76 million to £80 million.

The Board reaffirmed its commitment to advancing the Group’s core laundry and photobooth strategy, with a focus on international expansion and continued investment in technology upgrades.

The Group is scheduled to publish its interim results in mid-July 2025.