Me Group International PLC

ME Group International said it remains on track to meet its revised full-year profit-before-tax target of GBP 69 million to GBP 74 million, even though first-half performance was mixed. Revenue was nearly flat overall as stronger laundry growth was offset by softer photobooth trading and lower equipment sales. Laundry was the main growth driver, with Wash.ME revenue up more than 16% in the first half and EBITDA up 21%, helping lift group EBITDA margins. The company is accelerating expansion through new partnerships, including a major rollout with ASDA and a trial with Aldi. Photobooth revenue weakened, especially in April and in Germany after regulatory changes, though ME Group expects conditions to normalize and is seeking certification to reenter parts of the German passport market. Management also highlighted continued share buybacks and a lower interim dividend, reflecting reduced profit and a prior-year property gain that did not repeat.