Vianet Group PLC - Stockton-on-Tees, England provider of retail sales and volume monitoring systems - Says the good revenue momentum experienced at the end of last year has continued into the new year. Notes recurring revenue remains strong at 85%. Reports excellent customer engagement and encouraging recurring income growth in the Smart Machines division. Smart Zones division is "materially" ahead year-on-year and tracking towards pre-pandemic levels. However, cautions that semi-conductor supply shortages are resulting in higher hardware costs. Company actively seeking to recoup these additional costs.
Current stock price: 72.00 pence, up 2.1% in London on Wednesday afternoon
12-month change: down 32%
By Heather Rydings; heatherrydings@alliancenews.com
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Vianet Grp (VNET)