Me Group International PLC (LSE:MEGP) shares rose 13.1% to 116.96p after the instant-service equipment operator said it remained on track to meet revised full-year expectations despite weaker consumer spending in April.
The group reported first-half revenue of £154.3 million for the six months to 30 April, up 0.3%, while underlying earnings (EBITDA) increased 7.1% to £57 million and profit before tax slipped 3.8% to £32.7 million as lower equipment sales and a slowdown in vending activity weighed on performance.
The company said trading weakened in April, particularly in France, its largest market, as consumer confidence was hit by geopolitical uncertainty.
Vending revenue returned to more normal levels from May and the improvement continued into June.
Growth was driven by the Wash.ME laundry machines, where vending revenue increased 16.3% to £54.8 million. Laundry operations now account for more than 38% of group revenue and 54% of EBITDA.
There were 499 net new laundry machines installed in the period and the group said it is "on track" for a target of 1,300 for the whole 2026 financial year, helped by a large laundry partnership with ASDA and renewed long-term contracts with French transport operators SNCF and RATP.
The company expects profit before tax for the 2026 financial year to be between £69 million and £74 million, down from £78.2 million last year.
