The latest announcement is out from ME Group International ( (GB:MEGP) ).
ME Group International PLC reported another record year of profitability for the fiscal year ending 31 October 2024, driven by a 3.4% increase in revenue, primarily from the expansion of its laundry services, and significant margin improvements. The company successfully executed its Wash.ME growth strategy, resulting in a 19.1% increase in laundry vending revenue and the installation of a record number of laundry machines. The launch of the Kee.ME automated key-cutting service underscores ME Group’s commitment to innovation. Despite foreign exchange headwinds, the company remains highly cash generative and returned cash to shareholders with a 6.8% increase in total dividends. ME Group’s strong financial performance and strategic advancements position it for continued growth and long-term success.
More about ME Group International
ME Group International PLC is a market leader in automated self-service equipment for the consumer market, operating across key regions such as Continental Europe, the UK & Republic of Ireland, and Asia Pacific. The company offers a wide range of instant-service vending equipment, including photobooths and laundry services, as well as ancillary services like digital printing kiosks and foodservice vending equipment. ME Group benefits from partnerships with major site owners in high-footfall locations, allowing it to offer multiple products and services onsite.
YTD Price Performance: 8.29%
Average Trading Volume: 326,351
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £836.5M
See more data about MEGP stock on TipRanks’ Stock Analysis page.