LONDON (Alliance News) - Monitoring systems provider Vianet Group PLC on Tuesday said trading in the second half of the year to the end of March was as planned, and its profit will broadly meet market expectations.
Vianet said its core beer flow monitoring business in the UK, including its iDraught unit, has managed to strengthen its market position despite continued pub closures across the country. The systems help pub owners monitor and control the amount of wastage from draught beer pumps.
Vianet said its Vending Telemetry business has benefited from investments made in the business and saw revenue grow in the second half. Vianet also completed the sale of its fuel business in January, strengthening its cash position.
"Against a backdrop of ongoing pub closures and increased investment, the group has delivered year-on-year profit growth," said James Dickson, Vianet's chairman
Vianet will publish annual results on June 7.
Shares in Vianet were up 2.1% at 108.75 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Vianet Grp (VNET)