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Vianet says H1 trading ahead year on year

By BFN News | 07:27 AM | Thursday 09 October, 2014


Vianet (VNET) said trading for H1 is ahead of the same period last year and, as anticipated, is in line with the board's growth expectations. "The strength of the Group's recurring income and prospects for the second half of the current financial year provides the Board with the confidence to propose maintaining the interim dividend at 1.7 pence," it said in a trading update for the half year to Sept. 30. "Whilst there continues to be pressure on trading in the pub sector ahead of the implementation of the Statutory Code, the Board is encouraged by several new iDraught orders received in recent months. These new orders, together with further cost reduction and efficiencies, are helping to offset the impact of pub closures." Strong progress has been achieved in Vending Telemetry, particularly with solutions for the coffee market, and the period saw a continued growth in profits. The Group's existing orders in this market segment are being installed successfully ahead of plan, and the Board remains positive that further growth in Vending Telemetry will be secured in the second half. The Group's Fuel Solutions Division has also made reasonable progress in the period as it benefitted from a reduced cost base as well as higher margin activity, with breakeven anticipated despite some significant projects being delayed into the second half of the financial year. Story provided by StockMarketWire.com

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