Delay in FY25 Audited Financial Statements
ME Group International PLC has announced a delay in the publication of its audited financial statements for the year ended 31 October 2025, as its auditor requires more time to complete audit procedures, though no material issues have been identified. The company reaffirms its previously issued guidance for FY25, expecting total revenue between £311 million and £318 million and profit before tax between £76 million and £79 million. Consequently, the company anticipates a temporary suspension of its shares from 2 March 2026 until the FY25 results are published, expected by 13 March 2026. For the year ending 31 October 2026, trading is in line with expectations, and the company plans to launch a share buyback programme of £15 million to £20 million shortly after releasing its FY25 results.
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596/2014) WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
ME Group International PLC
('ME Group', 'the Company' or 'the Group')
Delay in FY25 Audited Financial Statements
FY26 Trading Statement and Share Buyback Update
Delay in FY25 Audited Financial Statements
The Company announces a delay to the publication of the audited financial statements for the year ended 31 October 2025 ("FY25").
The Company's auditor, Forvis Mazars LLP, has informed the Audit Committee that it needs more time to finish its audit procedures for FY25.
The Group is naturally displeased and disappointed with this and is working with Forvis Mazars to make sure that the audit is completed as soon as possible. As of today, the Company has not been told of any material audit issues affecting the Group's consolidated financial statements.
The Company reconfirms the guidance provided on 7 November 2025 in respect of FY25 performance:
"Total revenue for the full year is expected to be between £311 million and £318 million1. The Group expects to report another year of record profitability with profit before tax of between £76 million and £79 million1. The Group's cash conversion and balance sheet remained strong."
As a result of the delay, the Company expects that its shares will be temporarily suspended from listing and trading from 2 March 2026 until the audit is concluded and the 2025 annual report and accounts are published, which the Company expects to be by no later than 13 March 2026.
FY26 Trading Statement and Share Buyback Update
In respect of the year ending 31 October 2026 ("FY26"), the Company confirms that the year-to-date performance is in line with expectations.
Based on proxy results to date, the Company believes it will receive the requisite authorities to implement a share buyback programme. The Company expects to launch a share buyback of between £15 million to £20 million shortly following publication of its FY25 results.
1Excluding the impact from foreign exchange rates ("at constant currency") during FY25, particularly the Japanese Yen which saw a 1.9% decrease in value against pound sterling (average rate of exchange used in FY2025 was Yen/£ 195.35 vs FY 2024: Yen/£ 191.71), and a 0.05% decrease in the euro against pound sterling (average rate of exchange used in FY 2025 was €/£ 1.178 vs FY 2024: 1.173).
| · | Wash.ME | Unattended laundry services and launderettes |
| Ancillary activities: | ||
| · | Print.ME | High-quality digital printing kiosks |
The Company's shares have been listed on the London Stock Exchange since 1962.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.