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(Alliance News) - Internet-of-things monitoring platform Vianet Group PLC said Thursday trading was in line with expectations during the first four months of financial 2020 and the company remains "on course" to meet market expectations.
The Smart Machines unit of the firm had "successfully concluded" negotiations on three long-term contracts with "leading vending operators." Combined, the contracts could bring unit sales of 20,000 and revenue of around GBP10 million over the three to five year period covered.
For the year ended March, Vianet generated GBP2.7 million pretax profit on revenue of GBP15.7 million.
"We are pleased with the contract wins, which are evidence of the group's positive start to the year," Vianet Chair James Dickson said.
Shares in Vianet were 1.6% higher at 119.88 pence in London on Thursday.