Photo-Me outlook ‘cautious’

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

It said it is taking a "cautious outlook with regard to prospects" because of the depressed economic conditions in all its main markets.

It said trading was encouraging in May and June before it turned down in July and emphasised that the first quarter historically "contributes an insubstantial amount to annual profits."

The group, which recently had a major management shake-up and announced a recovery strategy, said first-quarter revenues and profits were "in line with management's expectations."

Net debt at the end of the quarter was £45.1million, which was modestly down on the April year-end total of £45.5million.

The group said it is making progress on its new strategy, with extra printing kiosks and amusement machines placed in the market.

A cost-reduction programme has started to roll-out across the group, while new vending concepts are being tested or developed.

The group has completed the sale of its US business for a nominal price, but this still left it with an exceptional profit on the deal of some £900,000.

For the full year, the board "continues to aim to achieve, at least stability relative to last year's results" and to make significant reduction in net debt.