Me Share Discussion Threads

[disc0dave46] 01/12/2023 13:18

Re post 289Great find, thanks for that, changes my thinking completely.....unbelievable journalism!.

[johndoe23] 01/12/2023 09:05

Big prints again, hopefully the seller is running on fumes now

[shanklin] 01/12/2023 08:35

The increase in H2 vs H1 revenue is less than the increase in H2 vs H1 PBT.

[masurenguy] 01/12/2023 07:09

Berenberg believes ‘overlooked’ ME Group developing well

ME Group (MEGP), formerly Photo-Me, is on track for record profits this year but still remains ‘overlooked’, says Berenberg. Analyst Eleanor Spencer retained her ‘buy’ recommendation and target price of 200p on the stock, which was trading at 128p on Thursday.

The group, which operates photobooths, laundry services, and food vending machines in 19 countries, confirmed it will deliver record profit before tax in full-year 2023, hitting the top end of guidance. ‘For the second half, this implies £40m in adjusted profit before tax - up by 52% year-on-year – 5% ahead of our estimates,’ said Spencer. ‘While we believe its Feed.ME division may have grown slower than expected, both Wash.ME and Photo.ME developed well.’

Spencer said the update confirmed ‘resilient consumer demand and improving machine roll-out rates’. ‘We think ME Group remains an attractive, overlooked growth story and with shares trading on just 6.7x full-year 2024 enterprise value/EBIT, we think its stock looks cheap,’ she said.

[shanklin] 01/12/2023 07:06

The quote mentioned in post 272 comes from the 14-Nov-22 TS...

[xxx] 01/12/2023 05:31

I dont like the food vending idea. Perishables, quality consistency issues, substitutability.
I have seen lots of juicing machines abroad + pizza is too generic imv. to compete at the lower end of the market. Furthermore, it sucks up capital and is an untoward diversion of management time.

[dr biotech] 30/11/2023 21:42

Huh? Its a relatively new section so its bound to be small - and if you are against vending perishables then surely you'd want this division to be as small as possible compared to the rest of the group?

Most of the food group custom seems to be in restaurants and takeaways. Not sure if there is a lot of direct vending to the consumer.

[foolsgold1] 30/11/2023 20:37

Fact that food is 4.5% of revenue is a major concern. The investment they have put into this and ambition they have for it would tell me the revenue should be over 10% as said earlier. Looks like it’s going to be like their laundry B2B business and Asda photo business.

[pyemckay] 30/11/2023 20:19

good points.

[foolsgold1] 30/11/2023 20:08

I met Serge at an AGM many years ago and one of his rules was don’t vend perishables and limit the amount of visits to every site. FeedMe breaks both these rules and my other concern is the FSA, having been involved in the food business, I’m sure they are been hit by regulations they have never had to deal with before. I’m concerned but stubborn, so I’ll hang on till year end.

[pyemckay] 30/11/2023 17:30

No surprise FEED.me is a flop. There is way too competition in the fast food sector. I dont think it takes off. Could be a noose round their neck and Im a shareholder too. Will need to rethink about other opportunities possibly,

[dr biotech] 30/11/2023 16:41

Food is 4.5% of total revenue. So no big drama either way

[essentialinvestor] 30/11/2023 15:46

I questioned the move in to food previously so not surprised to see a .. reorganisation.

This may eventually go the same way as their B2B laundry business ?.

[prokartace] 30/11/2023 15:42

Dr Biotech, no worries for ME in Japan, there is no crime

[dr biotech] 30/11/2023 14:30

I find myself paying for almost everything by card/phone - I guess its makes life easier for MEGP - no cash handling, less chance of vandalism etc. Not quite sure what the situation is in Japan now. I've been there a few times and for a high tech country I was really surprised at the large amount of cash that was used (way more than the UK)

I'm going to hold here for the next couple of years or until the rating meets my idea of what its worth. Perhaps the elephant in the room is Serge's age and large holding. But it looks solid, and there is a decent yield too.

[blueflex2] 30/11/2023 14:11

Lots of buys now. Possibly discount now. DYOR.

[prokartace] 30/11/2023 13:22

Time for me to buy back into this lovely company

[sevenccc] 30/11/2023 12:34

Topped up too. Missed your 120p base for support though Brucie. PBT growth looks excellent but the slowdown in revenue growth from half year is quite marked. Look forward to seeing the full year results for a better insight.

Went over to Ypres earlier this year and one of the villages we visited had an excellent bakery but they didn't sell coffee. They directed us to an indoor Vending Unit that had machines for all sorts of products. Almost like a mini supermarket. Unfortunately the Bean to Cup coffee machine was out of order!

Cash purchases in several small shops in the area were using automated cash handling machines. Saw this in Porto too in July but have never seen it in the UK. Looked like a reaction to COVID cash handling rather than going to digital. Possibly a tax enforcement method too according to the proprietor in Porto. Might this market be another opportunity for ME Group?

[disc0dave46] 30/11/2023 12:31

Here's the link which mentions subdued Asia market. Need more on what that exactly means, particularly given their expectations for growth (Rev +20% to +30% and pbt circa £2.2m) associated with the recent Fujifilm Japan acquisition and flu like issues currently being experienced in China.Might be me but not including that info in the RNS is a bit of a red flag.Https://www.morningstar.co.uk/uk/news/AN_1701334275711303300/me-group-eyes-mixed-outcome-for-financial-year-as-demand-recovers.aspx

[tim1478] 30/11/2023 12:14

Now in on ambitious limit price-- stop loss set! Chart unsettling!

[peterm35] 30/11/2023 12:08

Anyone know what happened to the share buyback? I was surprised it seemed to stop about a month ago despite the share price falling. I'm wondering now if they may take it back up again given the fall in share price.

[johndoe23] 30/11/2023 11:55

Good coverage on stockopedia this morning, rated green

[thebeast1] 30/11/2023 11:35

My stop loss got hit earlier but I have now re-entered again. Market seems to be ridiculous. It is expecting higher profit than before and has been down from 160p to 120p in the last 4 months. Surely if there is a Christmas rally this should be back to a similar level until next results in Feb.

[brucie5] 30/11/2023 11:25

Sundance1330 Nov '23 - 11:02 - 276 of 277
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Small top, sadly insufficient cash to take advantage of the big spike down earlier.
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1.20 support seems to have kicked in?