LONDON (Alliance News) - Vianet Group PLC said Tuesday that its profit for the first half of the year increased on the back of a 14% jump in revenue.
For the six months to September 30, the company - which develops data-gathering devices for beer taps, gaming machines and other uses - posted pretax profit of GBP993,000, up 10% compared to GBP899,000 a year prior.
Revenue rose 14% year-on-year to GBP7.7 million from GBP6.7 million, helped by the acquisition of software developer Vendman Systems Ltd, completed in October 2017.
However, higher intangible asset amortisation of GBP597,000 and net finance costs of 34,000 partly offset the revenue increase.
Vianet maintained its interim dividend at 1.70 pence per share, same as last year's interim payout.
Looking ahead, Vianet said: "The board believes that Vianet's medium- to long-term prospects are exciting as we are increasingly demonstrating that our strategy of leveraging the power of our cutting edge technology platform to bring valuable business insight to our customers is the right one."
Vianet shares were trading up 3.2% at 106.86 pence.
Vianet Grp (VNET)