Vianet Group PLC - Stockton-on-Tees, England provider of retail sales and volume monitoring systems - Reports that it is on course to return to pre-pandemic trading levels after a strong first half performance. Revenue for the six months to September 30 is GBP6.3 million, up 54% from GBP4.1 million a year before. Pretax loss narrows to GBP363,000 from a GBP1.3m loss a year before. Vianet states it is well placed to get back to pre-pandemic performance levels in early financial year 2023. Attributes growth to strong performance in new business and Smart Machines division unit sales. The recovery seen in Smart Zones division is aligned to re-opening of pub sector, company notes. Looking ahead, says a strong pipeline of opportunities exists for the business.
Chair & Interim Chief Executive James Dickson comments: "Whilst we are not immune to the global supply chain and Covid-19 pressures, our first half 2022 results provide real momentum into second half 2022, with a clear line of sight towards meeting financial year 2022 market estimates of GBP2.2 million and giving rise to the group's return to pre-pandemic levels of trading during early financial year 2023."
Current stock price: 86.45 pence, up 4.2% Tuesday afternoon
Year-to-date change: up 38%
By Will Paige; willpaige@alliancenews.com
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Vianet Grp (VNET)