Trading Update
ME Group International plc has issued a trading update for the six months ended 30 April 2026, reporting a 2% increase in group revenue, though April saw a softening due to reduced consumer confidence linked to Middle East conflict. The photobooth business, Photo.ME, experienced a 17% revenue decline in April, while the higher-margin Wash.ME laundry business saw only a 3% increase in April compared to a 17% rise in the first half. Equipment sales were down 14% in the period. Consequently, the company now forecasts full-year 2026 profit before tax to be between £69 million and £74 million, but remains confident in its long-term growth and laundry expansion plans.
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ME Group, the instant-service equipment group, announces a trading update for the six months ended 30 April 2026 ('H1 2026') and the outlook for 2026 financial year ('FY 2026').
As noted in the 2025 Annual Results published on 23 March 2026, the Group started FY 2026 in line with expectations, and the operational business continued on this trajectory through the majority of H1 2026. However, during April, the Group experienced a softening in revenue, particularly in the French photobooth and laundry businesses. The Board believes this is largely attributable to a shift in consumer spending patterns driven by lower consumer confidence due to the ongoing conflict in the Middle East.
Group revenue in H1 2026 grew by 2%. The photobooth business was impacted by reduced demand for official photo ID amid ongoing travel uncertainty, with Photo.ME revenue down 17% in April compared with a decline of 6% in H1 2026. Wash.ME, the Group's higher-margin business, was also impacted in April by a decline in consumer spending, with revenue in April up only 3% compared with an increase of 17% in H1 2026 overall. Revenue from the sale of equipment in H1 2026 was down 14% compared with the same period last year, reflecting the Company's focus on operating instant-service equipment.
While there has been an improvement in trading through May, the Board does not expect trading patterns to normalise while conflict in the Middle East and the subsequent uncertainty in the macroeconomic landscape continue. Consequently, the Board is taking a more cautious view to the full-year outlook, and it now expects FY 2026 profit before tax to be in the range of £69 million to £74 million.
The Group has a strong balance sheet, and the Board remains confident in its long-term growth plans. The laundry expansion programme to install more than 1,300 Wash.ME laundry machines in FY 2026 remains on track.
The Group will publish its interim results for the six months ended 30 April 2026 in the latter half of July 2026.
| · | 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.