ME Group Reaffirms Profit Outlook, Citing Rebound From April Consumer Slowdown

ME Group International Plc has reaffirmed its full-year profit guidance, signaling that business activity has recovered since a slowdown in April that was linked to weaker consumer spending. The London-listed operator of instant-service equipment said it still expects full-year profit before tax to be in the range of £69 million to £74 million.

H1 Performance

For the six months ending April 30, 2026, ME Group reported a mixed financial performance. While group revenue saw a slight increase of 0.3% to £154.3 million, profit before tax declined 3.8% to £32.7 million compared to the same period last year.

Other key figures from the first half include:

• EBITDA: Rose to £57 million from £53.2 million a year earlier.
• Diluted earnings per share: Fell 3.9% to 6.48 pence.
• Interim dividend: The board declared a dividend of 3.60 pence per share, a 6.5% decrease from the 3.85 pence paid in the prior year.

April Slowdown and Rebound

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The company stated that trading in the first five months of its fiscal year met expectations but was impacted by a challenging April. It cited "a significant reduction in photobooth activity" which it attributed to a more cautious consumer environment, particularly in France, amid "ongoing geopolitical uncertainty."

The board described the situation as "extraordinary and temporary," noting that trading patterns have been returning to normal levels since May. Photobooth revenue reportedly surged 25.9% year-over-year in May, while its Wash.ME laundry vending revenue grew 11.1%.

Strategic Focus on Laundry

The company's laundry division has been a key driver of growth. Revenue from the Wash.ME business grew 16.3% in the first half to £54.8 million, with the company installing a net 499 new machines. ME Group plans to install approximately 800 more in the second half of the year.

In a statement, Chief Executive Serge Crasnianski highlighted the segment's increasing importance, noting that laundry operations now account for over 38% of group revenue and 54% of group EBITDA. The company also announced a new partnership with UK supermarket chain ASDA, which it called the largest laundry agreement in its history, and renewed multi-year contracts in France with rail operator SNCF and Paris transport operator RATP.