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Vianet Group PLC (VNET)

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Thursday 28 June, 2018

Vianet Group PLC

AGM Statement

RNS Number : 8313S
Vianet Group PLC
28 June 2018
 

 

Press Release

28 June 2018

 

Vianet Group plc

("Vianet" or the "Group")

 

AGM Statement

 

Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things ("IOT") platform, will be holding its Annual General Meeting today at 11.00 am at the offices of Grant Thornton UK LLP, No 1 Whitehall Riverside, Leeds, LS1 4BN.

 

James Dickson, Chairman, will provide the following trading update at today's meeting:

 

"Benefitting from solid momentum into the new financial year, the Group's trading in the first two months is broadly in line with the Board's expectations.  The business is also making good strategic progress through our focus on strong growth opportunities in the Smart Machines division.

 

The Smart Machines division, where there is real emphasis on taking advantage of our leading position in coffee vending and contactless payment device connectivity, is building sales momentum which will fuel growth.  The integration of Vendman is also progressing well and traction is increasing as we seek to overlay c 200,000 Vendman mobile connections with higher value Smart Machines connections and also cross sell from the portfolio to existing customers and vending operators internationally.

 

In the Smart Zones division trading is marginally behind last year so far due to installation phasing although there is encouraging progress with revenue growth in our managed compliance service.

 

The Board remains confident that Vianet's long term strategy is the right one and that the Group is well positioned to deliver earnings growth and expand the future strategic options for Vianet.  This is reflected in the Board's decision to recommend maintaining the final dividend at 4p per share."

 

- Ends -

 

 

Enquiries:

Vianet Group plc


James Dickson, Chairman

Tel: +44 (0) 1642 358 800

[email protected]

www.vianetplc.com

 

Cenkos Securities plc


Stephen Keys / Camilla Hume

Tel: +44 (0) 20 7397 8900


www.cenkos.com 

Media enquiries:

Yellow Jersey PR


Sarah Hollins

Abena Affum   

[email protected]

            Tel: +44 (0)7764 947 137

            Tel: +44 (0)7555 159 808

www.yellowjerseypr.com

 

 

About Vianet

Vianet Group is a leading provider of actionable management information and business insight created through combining data from our smart Internet of Things ('IOT') solutions and external information sources.

 

Since Admission to AIM in 2006, the Group has grown from its core beer monitoring business both organically and through strategic acquisitions to widen its offering and also develop new businesses, especially in vending telemetry and contactless payment solutions particularly for the premium coffee sector.

 

Servicing over 300 customers across the world and rendering live data to our IOT platform from over 250,000 connected machines daily, Vianet is one of the largest business to business (b2b) connected solutions providers in Europe with established long term relationships with blue chip customers and growing recurring revenues which are over 85% of our total revenues.

 

 

 

In our Smart Machines Division we connect a single data gathering device with its own on-board communication capability to a customer's asset or system.  The device then sends data back via our IOT platform to cloud based servers.  The technology was originally developed for automated retailing machines, however the flexibility and functionality of the device means the technology can be applied to practically any machine which has the capability to output data.  The device is also used to connect our contactless payment solution and communicate payment terms to our cloud based payment services providers where that application is also required.

 

The Smart Zones Division is where we connect multiple data gathering devices into one or more systems or assets with the data from those devices being communicated back to our IOT platform and cloud based servers via a single 3G communications hub.  The technology was originally developed for flow monitoring devices, temperature sensors, and asset management in drinks retailing but practically any data gathering device with a digital output could be connected to the communications hub where required such as gaming machines, utilities management and EPOS.

 

For further information, please visit www.vianetplc.com


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