Last checked at 31 Mar 2014 07:00
Press Release | 31 March 2014 |
Vianet Group plc
("Vianet", the "Company" or "the Group")
Trading Update and Notice of Results
Vianet Group plc (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 year ended 31 March 2014 which will be released on Tuesday, 10 June 2014.
Trading for the second half of the year is expected to be broadly in line with the Board's expectations and, as a result, the Group's full year pre-exceptional operating profits will be in the region of £3.0 million, as indicated in the trading update of 9 October 2013 and the strength of the Group's recurring income and prospects for 2014/5 give the Board confidence in maintaining the proposed final dividend at 4p, which would give a total dividend for the year of 5.7p.
Against a background of ongoing uncertainty around the Government's proposed Statutory Code for pub companies and ongoing pub closures, trading remains challenging for the Group's core beer flow monitoring operations. However, the Board remains hopeful of a satisfactory outcome from the Statutory Code consultation process although it continues to exercise caution as the timing and content of such an announcement remain unclear.
Good progress has been achieved in Vending Telemetry and the second half saw continued growth in profits. The Board believes that the prospects for this business remain excellent, particularly with telemetry solutions for the coffee vending market. The Group's existing orders in this market segment are being installed successfully and ahead of plan and we remain positive of securing a significant new business win in the first half of 2014/5.
The Group's Fuel Solutions Division has also made good progress during the period as it benefitted from a reduced cost base and higher margin activity, achieving reduced losses compared with the prior period and is now trading profitably.
James Dickson, Chairman, commented: "Whilst trading in the pub sector has been challenging, the business has 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 realised and further cost reduction initiatives are being implemented. Given the Group's prospects and strength of recurring income, the Board is pleased to maintain the final dividend."
An audio cast of the full year 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, 10 June 2014 on the Group's website www.vianetplc.com with the link also being distributed by Abchurch Communications and Cenkos Securities.
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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 / Camilla Hume | Tel: +44 (0) 20 7397 8900 |
www.cenkos.com |
Media enquiries:
Abchurch Communications | |
Joanne Shears / Alistair de Kare-Silver joanne.shears@abchurch-group.com | Tel: +44 (0) 207 398 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