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Vianet Group posts FY pretax profit

By BFN News | 07:37 AM | Tuesday 07 June, 2016


Vianet has posted a FY pretax profit of £1.6m. Final dividend was 4p a share, taking the total to 5.7p, flat on the year. Revenue came in at £19.24m, from £18.5m. Recurring revenue was strong at 69%, from 71%. Chair James Dickson was pleased with the performance. "We saw good progress in each of the three divisions and we are continuing to pursue growth opportunities in our Vending and Leisure divisions. "The sale of Fuel Solutions in December 2015 puts the Group's balance sheet into net cash position and enables us to focus on and invest further in our core assets. "We have continued to experience adverse pressures in our beer flow monitoring operations, but with a noticeable slowing in the rate of UK pub closures combined with strong recurring revenues and further iDraught sales, the Leisure division's income has been stable within the period. "The Board of Vianet looks forward confidently to a positive outcome from the current financial year. "In Vending we expect increased sales, partly supported by the new five year contract with Jacobs Douwe Egberts, and Leisure will benefit from long term contract extensions with its core customers alongside increased iDraught sales. "The Group believes that strategic insight and actionable data will be the fundamental value driver in years to come, and so continues to develop its Internet of Things capability to provide ever greater value to its customers." Story provided by StockMarketWire.com

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