Photo-me International plc (lon:phtm)
Photo Me – Director Departure

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Commentary History
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Tue 14 Jul 2020Photo Me – Director Departure
Commentary
Title: Photo Me – Director Departure
Company: PHTM - Photo-me International plc
Share Price Then: 47p
Author: Ian Smith
Date: Tue 14 Jul 2020
Comments: Photo Me made a brief RNS announcement on the 13th that Mr Eric Mergui the COO has left the board on the 12th but not the company for another year.

No other details were provided.

The trading update on the 10th of June was pretty much as expected business was going well until COVID hit, revenue from their Photo ID booths and children’s rides has been hit hard and this represented 63% of the group’s revenue.

It seems to me like there has been a disagreement on the way forward for the company.

In many ways the company has been very unexciting, the share price hardly moves over a year unless there is an announcement.

Prior to this announcement I wouldn’t have thought that COIVID would have been crippling for the company as a lot of their equipment could be turned off and the staff furloughed.

Yes this would have killed income, but maintenance and operating costs would also be massively reduced.
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