ME Group
{{Infobox company
| name = ME Group International plc
| logo =ME Group International logo.png
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| type = Public limited company
| traded_as = {{LSE|MEGP}}
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| foundation = 1946
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| location = Epsom, Surrey, England
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| key_people = Sir John Lewis (Chairman)
Serge Crasnianski, (CEO)
| industry = Vending
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| revenue = {{increase}} £307.9 million (2024){{cite web|title= Annual Report 2024| url=https://me-group.com/wp-content/uploads/2025/02/ME-Group-Annual-Report-XBRL-2024.xhtml|publisher= ME Group plc|access-date=26 February 2025}}
| operating_income = {{increase}} £74.4 million (2024)
| net_income = {{increase}} £54.1 million (2024)
| aum =
| assets = {{decrease}} £312.6 million (2024)
| equity = {{increase}} £179.9 million (2024)
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| homepage = {{URL|https://me-group.com/}}
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ME Group International plc, formerly Photo-Me International plc, ({{LSE|MEGP}}) based in Epsom, Surrey is a vending machine operator. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.{{cite web|url= https://research.ftserussell.com/products/index-notices/home/getnotice/?id=2608197|title=FTSE UK Index Series Annual Review June 2023 – Amendment|date=6 June 2023|publisher=FTSE Russell|access-date=16 June 2023}}
History
File:Castle Court Shopping Centre photo booth.jpg, Belfast, Northern Ireland]]
The company has its origins in a compact photograph developing process discovered by Gupp Allen and Ignatius Dunlap Baker in California in 1946.{{cite news|url=https://www.scotsman.com/business/photo-me-international-hands-out-ps11m-special-dividend-1591624|title=Photo-Me International hands out £11m special dividend|date=4 February 2023|newspaper=The Scotsman|access-date=23 May 2023}} They brought the process to the UK as a business named "Photo-Me" in 1952 and the company was first listed on the London Stock Exchange in 1962.{{cite news|url=https://www.sharesmagazine.co.uk/news/shares/profit-picture-dims-at-photo-me|title=Profit picture dims at Photo-Me|date=30 May 2018|newspaper=Shares Magazine| access-date=23 May 2023}}
Serge Crasnianski became chief executive in 1998 and, under his leadership, the company saw a significant increase in its share price as investors were led to believe that photo booths would ultimately provide internet services on the go.{{cite news |last1=Foley |first1=Stephen |title=The Investment Column: Digital camera revolution is giving Photo-Me a picture-perfect future |url=https://www.independent.co.uk/news/business/analysis-and-features/the-investment-column-digital-camera-revolution-is-giving-photome-a-pictureperfect-future-5346116.html |date=22 June 2005|access-date=24 August 2022 |work=The Independent}}
Three directors caused the company embarrassment in February 2007, when they cashed out their share options shortly before the company issued a profit warning: the Financial Services Authority subsequently fined the company £500,000 for not informing the markets in a timely manner.{{cite news |last1=Moore |first1=James |title=Photo-Me fine shames its former directors |url=https://www.independent.co.uk/news/business/comment/james-moore-photome-fine-shames-its-former-directors-2006928.html |access-date=24 August 2022 |work=The Independent}} In September 2007, a shareholder revolt over plans to sell off the vending division forced Serge Crasnianski and Vernon Sankey to resign.{{cite news |title=Photo-Me scraps vending division sale |url=https://www.reuters.com/article/us-photo-me-vending-idUKL1986229520070919 |access-date=24 August 2022 |work=Reuters |date=19 September 2007}}
Serge Crasnianski was reappointed to the board as a non-executive director in May 2009. He was re-appointed chief executive in May 2010 and immediately implemented the disposal of the company's loss-making wholesale photo-processing labs business.{{Cite web |url=http://investor.photo-me.com/financial_reports |title=Photo-Me International PLC, UK - Financial Reports |access-date=2010-10-27 |archive-url=https://web.archive.org/web/20101019001700/http://investor.photo-me.com/financial_reports |archive-date=2010-10-19 |url-status=dead }}
In November 2016, the company announced that the company had bought the photo division of Asda stores, taking over the supermarket's 191 photo centres and 172 self-service kiosks,{{cite news|title=Photo-Me International buys Asda's photo division|author=|work=Reuters|publisher=Reuters|date=23 August 2016|url=https://www.reuters.com/article/idUSFWN1B30IR}} and, in December 2019, the company diversified into the laundry business, with a division called "Revolution" providing 24/7 outdoor self-service launderettes.{{cite news |last1=McMahon |first1=Conor |title=Photo-Me enters picture in self-service laundry sector |url=https://www.thetimes.com/world/ireland-world/article/photo-me-enters-picture-in-self-service-laundry-sector-c8p78fbph |access-date=24 August 2022 |work=The Sunday Times |publisher=Times Newspapers |date=29 December 2019}}
The company was criticised in the satirical magazine, Private Eye, after it was disclosed that its chairman, John Lewis, had donated approximately £390,000 to the Conservative Party before being appointed a Knight Bachelor in the 2019 New Year Honours.{{cite magazine |title=Civil servitude |magazine=Private Eye |location=London |publisher= Pressdram Ltd|date=11 January 2019 }}
The company changed its name from Photo-Me to ME Group in August 2022 to reflect its reduced dependence on the photo booth business.{{cite news |url=https://www.investorschronicle.co.uk/news/2022/07/20/photo-me-splashes-out-on-special-dividend/|title=Photo-Me splashes out on special dividend|date=20 July 2022|newspaper=Investors Chronicle| access-date=23 May 2023}}
References
{{reflist}}
External links
- [http://www.me-group.com/ ME Group plc]
{{FTSE 250 Index constituents}}
Category:Photography equipment