Vianet Group PLC - Stockton-on-Tees, England based internet-of-things monitoring platform - Trading for first four months to July 31 ahead of revised revenue and profit expectations. Opening of pubs on July 4 positively impacted most of the company's cloud based data service customers. Saw a higher return of customers than expected in last six weeks, rising to 80% from 56%. Data insight, analytics and customer support revenue recommenced in August and the company anticipates a gradual restoration of this income through to 2020 end. Seeing a positive level of trading in its smart machines business. Reports growing engagement with brewers and consumer goods brand owners. Remains in a "robust" position to navigate financial 2021 and resume earnings growth.
Current stock price: 98.00 pence
Year-to-date change: down 38%
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Vianet Grp (VNET)