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Vianet improves H1 pretax profit

By BFN News | 09:00 AM | Tuesday 02 December, 2014


Vianet has improved its H1 pretax profit to £0.77m, from a year-ago profit of £0.57m. Revenue improved to £9.1m, from £9.0m. It maintained its interim dividend at 1.7p a share. Chairman James Dickson said: "The Board is pleased that the Group's focus on growth areas has resulted in increased profits for the period. "The Group's robust operational cash flow is underpinned by the resilience of Vianet's recurring revenue streams, particularly within the Leisure division, which has been augmented by improved iDraughtTM and vending telemetry sales whilst the Fuel Solutions division has moved into a small profit. "Whilst aspects of the yet to be finalised Statutory Code for pub companies remain a distraction for a number of the Group's customers, the Board is encouraged by several recent iDraughtTM orders and the pipeline of potential opportunities. "The Board remains confident that Vianet's long term strategy is appropriate and that the Group is capable of delivering consistent and sustained growth, within the parameters of its influence and control." Financial summary: �?� Revenue up 1.44% to £9.14 million (H1 2014: £9.01 million) supported by improved iDraughtTM and Vending sales �?� Operating profit before amortisation, share based payments and exceptional items up 16.9% to £1.52 million (H1 2014: £1.30 million) �?� Basic earnings per share (pre-exceptional items) at 2.97 pence (H1 2014: 3.37 pence), held back for the first time by a deferred tax adjustment of 1.04 pence �?� Vending Solutions operating profit of £0.28 million (H1 2014: £0.06 million) �?� Vianet Americas operating loss reduced to £0.17 million (H1 2014: £0.23 million) �?� Fuel Solutions operating profit of £0.004 million (H1 2014: loss £0.14 million) Operational highlights: �?� 261 new iDraughtTM installations (H1 2014: 79 installations) �?� Vending division growth continues with 3,926 unit sales (H1 2014: 650 units) predominantly in coffee vending At 9:00am: (LON:VNET) Vianet PLC share price was -0.5p at 76.5p Story provided by StockMarketWire.com

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