Photo-Me International PLC on Wednesday announced a move to a pretax loss for fiscal 2020 due to the spread of coronavirus pandemic.
The photobooth operator posted a pretax loss of 27.9 million pounds ($ 38.7 million) for the year to 31 October compared to a profit of GBP44.9 million for fiscal 2019.
Pretax’s profit for the 18 months ended October 31 was GBP492,000.
In March 2020, Photo-Me International announced that it was extending the fiscal year to 18 months from 12 months.
On a revised basis, Photo-Me posted a pretax loss of GBP26.0 million for the 12-month period and a pretax profit of GBP2.5 million for the 18-month period.
The company’s 12-month revenue fell to GBP186.3 million from GBP232.2 million the previous year, while 18-month revenue came in at GBP310.2 million.
No split has been announced for fiscal 2020.
The company said it expects to generate revenue of GBP175.0 million in the 12 months to October 31, 2021 and a revised pretax profit of GBP9.0 million.