News

Photo-Me cashes in on digital demand

December 13, 2004

Scotsman.com: Photo booth operator Photo-Me International has reported better-than-expected profits, boosted by high demand for digital photographs.

Photo-Me said revenues from the sale of mini-labs grew eight percent in the six months to Oct. 31 as retailers switched to state-of-the-art digital technology.

The firm said underlying pre-tax profits for the six months to October 31 were up 22 percent, adding that its traditionally weaker second half was expected to be stronger than in previous years.

Since May, Photo-Me has rolled out 2,000 digital media kiosks - vending machines capable of printing from both digital cameras and digital camera phones.

The company also operates mini-labs - high-speed printers which allow consumers to get instant snaps at locations such as railway stations and supermarkets.

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