Updates & Ideas

ME Group - Highly profitable laundry business accelerating roll-out

April 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

ME Group (the new name for Photo-Me) provides great memories for TMI. I originally added it to the first Trader Portfolio at 23.5p in January ‘03 and the shares subsequently soared to a peak of 140p three years later. After taking profits near the highs I eventually sold them at 86p in 2005 with the reinvested cash helping TP1 on a journey that ended with a gain on cost of nearly 519%. Now two decades on, the shares have just surpassed those old peaks after its 2023 results beat expectations. The company has clearly shrugged off the disruption caused by the Pandemic with revenue, EBITDA and pretax profit increasing from £232m, £76.9m and £45m in the year ended October 2019 to £298m, £106m and £67.1m in FY23 - growth of 28%, 38% and 49%, ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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