Last checked at 9 Oct 2014 07:00
Press Release | 9 October 2014 |
Vianet Group plc
("Vianet", the "Company" or the "Group")
Trading Update
Notice of Interim Results
Vianet (AIM:VNET), the leading provider of real time monitoring systems and data management services for the leisure, vending, and forecourt services sectors, today provides the following trading update ahead of the Group's results for the half year ended 30 September 2014, which will be released on Tuesday, 2 December 2014.
Trading for the first half of the current financial year was ahead of the same period last year and, as anticipated, is in line with the Board's growth expectations. The strength of the Group's recurring income and prospects for the second half of the current financial year provides the Board with the confidence to propose maintaining the interim dividend at 1.7 pence.
Whilst there continues to be pressure on trading in the pub sector ahead of the implementation of the Statutory Code, the Board is encouraged by several new iDraught orders received in recent months. These new orders, together with further cost reduction and efficiencies, are helping to offset the impact of pub closures.
Strong progress has been achieved in Vending Telemetry, particularly with solutions for the coffee market, and the period saw a continued growth in profits. The Group's existing orders in this market segment are being installed successfully ahead of plan, and the Board remains positive that further growth in Vending Telemetry will be secured in the second half.
The Group's Fuel Solutions Division has also made reasonable progress in the period as it benefitted from a reduced cost base as well as higher margin activity, with breakeven anticipated despite some significant projects being delayed into the second half of the financial year.
James Dickson, Chairman, commented: "Whilst trading in the pub sector has been challenging, Vianet has nevertheless made good progress and prospects, particularly for telemetry solutions for the coffee vending market, are encouraging. The benefits of the actions taken to reduce costs are being steadily realised and further cost reduction initiatives are being implemented. Given the Group's prospects and strength of recurring income, the Board is pleased to state its intention to maintain the proposed interim dividend."
An audio cast of the interim results presentation given by James Dickson (Chairman), Stewart Darling (Chief Executive) and Mark Foster (Chief Finance Officer), will be released at 07.00hrs on Tuesday, 2 December 2014 on the Group's website www.vianetplc.com with the link also being distributed by Abchurch Communications.
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Enquiries:
Vianet Group plc | |
James Dickson, Chairman | Tel: +44 (0) 1642 358 800 |
james.dickson@vianetplc.com | www.vianetplc.com |
Cenkos Securities plc | |
Stephen Keys / Mark Connelly | Tel: +44 (0) 20 7397 8900 |
www.cenkos.com |
Media enquiries:
Abchurch Communications | |
Henry Harrison-Topham / Alistair de Kare-Silver vianet@abchurch-group.com | Tel: +44 (0) 20 7398 7715 www.abchurch-group.com |
About Vianet
The Vianet Group is focused on the provision of real time monitoring systems, data management solutions and associated products for the leisure, vending and petrol forecourt sectors. Since its Admission to AIM in 2006, the Group has grown from its core Brulines beer monitoring business both organically and through strategic acquisitions to widen its offering to pub and bar retailers with its industry leading product iDraught as well as developing new businesses in vending telemetry, gaming machine data and petrol forecourt services.
Headquartered in Stockton-on-Tees, Vianet employs more than 230 people. For further information, please visit www.vianetplc.com