Vianet Group PLC - Stockton-on-Tees, England-based provider of retail sales and volume monitoring systems - Expects revenue for financial year that ended March 31 to be over GBP14.0 million, up 7% from GBP13.2 million in financial 2022. Expects operating profit to increase by 30% to GBP3.1 million ahead of expectations, up from GBP2.4 million the year before. Says contract renewals and new contract wins are encouraging. Chair James Dickson says: "Despite facing challenging economic conditions and global supply chain pressures, I am delighted that a strong team performance has resulted in the group making significant progress on several key projects and initiatives and on delivering good financial results."
In October, Vianet reported pretax loss of GBP107,000 in the six months ended September 30, narrowed from a loss of GBP363,000 the previous year. Revenue from continuing operations jumped to GBP7.2 million from GBP6.3 million.
Current stock price: 73.50 pence each, up 5.0% on Tuesday afternoon in London
12-month change: down 18%
By Xindi Wei, Alliance News reporter
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Vianet Grp (VNET)