StockMarketWire.com - Photo booth and laundry services group Photo-Me International upgraded its annual guidance after it experienced stronger-than-expected trading in May, June and July.

Pre-tax profit for the year through October, before exceptional items, was now expected to be between £25 million to £30 million, up from previous guidance of £21 million to £24 million.

Revenue was now expected at around £210 million, above previous guidance of around £200 million.

Photo-Me said the upgrade was driven by a stronger-than-anticipated recovery of photobooth activity, mainly in continental Europe.

'Nevertheless, economic uncertainty remains across many of the group's operating markets due to the Covid-19 pandemic,' it said.

'The board continues to closely monitor activity across all its end markets.'


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