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Vianet Group improves H1 pretax profit

By BFN News | 07:37 AM | Tuesday 06 December, 2016


Vianet Group has improved its H1 pretax profit by 8.65% to £1.13m, from £1.04m. Interim dividend was maintained at 1.7p. "I am pleased to report that the Group's focus on growth areas has delivered increased profits in our continuing business for this period," said chair James Dickson in a statement. "Against a modest improvement in the challenging backdrop to the UK pub sector, our strategy of focussing on newer products such as iDraught, coffee vending telemetry and contactless payment services has progressed well. "We believe there is substantial scope to grow sales of these and other existing products and services as well as bringing new offerings to both the vending and leisure markets through enhanced technology. "Throughout the Group, cash flow is strong, underpinned by high levels of recurring revenue, which supports our investment in strategic insight and mobile application development, which will be a key value driver going forward as we continue to develop our Internet of Things capability to provide greater value to customers." Revenue was up 1.44% to £7.06 million (H1 2016: £6.96 million), principally due to Vending Division growth. Operating profit before amortisation, share based payments and exceptional items was up 7.2% to £1.64 million (H1 2016: £1.53 million). Story provided by StockMarketWire.com

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