 Partnership extension with Morrisons Supermarket
ME Group International is pleased to announce it has extended its existing relationship with WM Morrisons Supermarket, one of the UK's largest supermarkets, for another five year period.
ME Group operates 488 photobooths, 424 children's rides and had 37 Revolution laundry in place before the new contract across Morrisons sites in the UK. Under the new five year contract, ME Group will install at least 200 Revolution laundry machines at Morrisons locations, which are expected to be installed over the next three years. Since agreeing the new contract, ME Group has installed 67 Revolution laundry machines, in line with its expectations, which are performing well. Today, the Group operates 104 Revolution laundry machines at Morrisons sites.
In the UK, ME Group operates more than 1,000 Revolution laundry machines and continues to rapidly expand its estate through the ongoing rollout of new machines. The new contract will continue to support the growth ambitions for ME Group's laundry services business. Morrisons is a key strategic partner for ME Group which has a long-standing relationship with the supermarket chain - spanning more than 30 years - to deploy its services at high-footfall locations, enabling customers to use services such as photo ID and laundry all whilst they carry out their weekly food shop.
John Parry, Head of Services at Morrisons, said: "We have been listening to feedback from customers who have told us they would like to see more convenient services in our supermarkets. We are therefore pleased to be introducing more launderette facilities with our partner, ME Group, and we will have over 200 of these self-serve machines in stores by the end of 2025." |
I'm not a subscriber so can't read the article any further. Possibly a review of their existing stock portfolio, with MEGP still looking good value on a current year PER of circa 13. Last years results due mid-Feb but we know the nuts and bolts from their year end trading update prior to Christmas. |
>Mas.....
There are no new ME reports around.
Was there any special reason for the Shares mag note?
It's behind a paywall.
pete |
Another record year for ME Group International means we’re happy to stay buyers.
Company has delivered a compound annual growth rate of 30% in free cash flow over the last half decade
16 January 2025
ME Group International (MEGP) 188.6p Gain to date: 18% We highlighted instant-service equipment group Me Group International (MEGP) as a compelling investment opportunity in February 2024. The company's business model is unique with inherent strengths allowing it to generate high returns on capital and consistent cash flow. |
Head and shoulder on chart? |
Better time to buy.. at the end of the day nothing has changed has it? Or am I missing something? |
Getting battered now |
Good time to buy. |
Below 200p not good |
What happened at 210, wall of sells |
Seems MEGP is one of Edison’s tips.. |
Needs to hold 200p |
Mike Caine | 17 December 2024
The author is a shareholder in the Company.
I first mentioned MEGP in May 2022 at 71p, when it was previously known as PHTM. It was last updated in the summer at 171p, so with the shares currently trading at 208.5p, I think it’s fair to say we have had a fabulous run. The share price surged from 71p to reach a high of 229p before retracing slightly to settle at 208.5p, representing a not-so-shabby 193.7%. |
Down on miniscule volume |
We have to take the lows with the highs. Up almost 70% YTD, if I had that across my portfolio I could hang up the boots and sail into the sen set. Solid base going into 2025, hopefully we can see 15/20% + in first quarter. |
Cool? I'm still waiting for it to warm up! |
Looking at chart 205ish maybe |
Yes, needed to cool or no rally next week |
Whole market down tbf. |
Well this is disappointing |
Ignore below comment on cash position. I hadn’t read full TU. |
Agree Disco on the booth rollout. But as long as what’s out there are delivering decent revenue the net return should increase as they sweat the assets without additional capex. Laundry revenue has nice increase however the increase in revenue seems to match the increase in new unit installs. Shows they are not sabotaging sales from existing sites but also average revenue per unit must not be increasing so hopefully no competition on the horizon to eat into their market share. Didn’t see a mention of available cash which they normally do so hopefully they are not over trading! I still think it will hit £1.30 and then fluctuate between 1 and 1.20. |
Agree Disco on the booth rollout. But as long as what’s out there are delivering decent revenue the net return should increase as they sweat the assets without additional capex. Laundry revenue has nice increase however the increase in revenue seems to match the increase in new unit installs. Shows they are not sabotaging sales from existing sites but also average revenue per unit must not be increasing so hopefully no competition on the horizon to eat into their market share. Didn’t see a mention of available cash which they normally do so hopefully they are not over trading! I still think it will hit £1.30 and then fluctuate between 1 and 1.20. |
IMO Looks like a slight beat to consensus PAT.Tax was c 24.5% last year so the £73m PBT would equate to circa £55.1m, consensus is £53.7m. Eps 14.6p v 14.2p consensus forecast.Seems to be up with events on a PE of c 15x.Slight concern is potential issues with photobooths rollout. |
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