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Cost cutting and new products pay off for Vianet

By BFN News | 09:52 AM | Tuesday 30 October, 2012


Vianet Group's strategy to reduce costs and drive sales of its newer products has started to deliver the anticipated benefits, resulting in H1 trading being in line with management expectations. Trading in the Group's core beer monitoring business has been strong as a result of several major customer contract extensions which included the installation of iDraughtTM as a replacement for standard Beer Monitoring. iDraughtTM, which now accounts for almost fifteen per cent of the Group's total installation base, has continued to increase penetration of the on-premise draught beer market, with many major retailers conducting extensive evaluations. In addition, the Group is encouraged by the early interest in iDraughtTM from national retail chains resulting from increased investment in the USA as Vianet Americas extends its foot print beyond the Colorado on-premise beer market. The Group's Vending Telemetry business continued to trade at breakeven in H1 however the prospects for H2 are strong. The improvement arises from further progress in developing significant new sales opportunities with major international companies for the Group's leading end-to-end vending telemetry, and Touch & PayTM cashless and contactless solutions, which were used by Coca Cola and VISA at the recent London 2012 Olympic Games. At 9:52am: (LON:VNET) share price was +2p at 102p Story provided by StockMarketWire.com

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