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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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ME Group - New Peel Hunt note has 350p price target

August 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.

  • Epic Code:
  • MEGP
  • Price:
  • 171p
ME Group said positive momentum has continued throughout H1 ‘24 with year-on-year revenues up 8.6% excluding FX impact and profit before tax rising 13.6% Within the mix, photo booths increased sales 7.4% at constant currency while its laundry division, Wash.ME, rose a strong 19.6% reflecting the rollout of its new Revolution laundry machines, which grew 18% with a record 420 machines installed. In the period, the group continued to expand in high footfall locations such as supermarkets and petrol forecourts with its pipeline on track to secure a record number for the full year. Peel Hunt, which has just published a 31 page buy note, says Laundry is expected to increase average revenue per unit from £14,795 in 2023 to £20,00 ...

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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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