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Vianet FY pretax profit dips to £1.8m, from £2.3m

By BFN News | 07:47 AM | Tuesday 11 June, 2013


Vianet posted a full-year pretax profit of £1.8 million, from £2.3 million. Revenue was £21.09 million, from £22.98 million. Recurring revenues remained steady at 71%, from 70%. It proposed a final dividend of 4p a share, giving a total dividend of 5.7p, from 5.67p. "We announced on 22 February 2013 that our results for the year would not match original market expectations due to a combination of contract delays, further pressure in the Leisure sector and the impact of increased investment in the US beer monitoring operation," said executive chairman James Dickson. "The operating profit achieved has in fact slightly exceeded the revised forecasts and we remain pleased with much of our underlying performance and the impact of cost reduction programmes," he said. "We believe that we should make good progress in 2013/14 and, as a reflection of that and the continued strong cash generation of the Group, we have maintained our progressive dividend policy." Story provided by StockMarketWire.com

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