Photo-Me International plc provided Group earnings guidance for the year ended 30 April 2018 and year ending 30 April 2019. For the financial year ended 30 April 2018, the Board expects the Group will achieve turnover growth of approximately 6% versus the prior year on a constant currency basis, with the Group's profit before tax expected to be broadly in line with market expectations, including a one-off investment gain of £3.7 million relating to the Group's shareholding in Max Sight Group Holdings Limited. As at 30 April 2018, net cash was approximately £26 million, reflecting capital expenditure slightly ahead of the prior year, investment in laundry acquisitions and the restructuring of Photo-Me Retail. During the current financial year, the Group will invest in a thorough restructuring of its Japanese subsidiary which is expected to boost profitability in fiscal 2019 and beyond. Taking this into account, the Board now believes that profit before tax for the year ending 30 April 2019 will be at least £44 million, which includes the reorganisation cost in Japan, and is below current market expectations. This excludes any potential revaluation gains pertaining to the Group's investment in Max Sight Group Holdings. As a result, the Board anticipates underlying profit before tax (excluding one-off items) for the financial year ending 30 April 2019 is likely to be at a similar level to financial year ended 30 April 2018, excluding a one-off investment gain and proceeds from the sale of the Group's head office buildings.