'Improvement' leaves data firm Vianet Group upbeat

A data monitoring firm says it is "looking ahead with great optimism" following a “notable improvement” in market performance.

Vianet Group says it has “confidence in its future” after establishing "a strong foundation for growth".

The Stockton firm revealed its upbeat outlook in a trading update yesterday (Monday, November 4), which showed increases across revenue, EBITDA and operating profit.

Bosses say the company, whose software helps vending machine operators manage payments, has been helped by its decision to shift from 3G to 4G technology, which has created a “substantial pipeline” of work.

They add the firm, which also supports pub landlords to cut waste through precise alcohol readings, has benefited from its acquisition of US-based Beverage Metrics, which is “driving growth in both the UK and US hospitality markets.”

James Dickson, chair and chief executive, said: “We are witnessing a notable improvement in performance, driven by our investments in sales, technology, new market verticals and expanded product lines.

“These initiatives, along with our strategic partnerships, have established a strong foundation for growth, unlocking exciting commercial opportunities across all areas of our business.”

According to the firm’s financial results, half-year revenue was up from £7.19 million a year ago to £7.69 million, with EBITDA increasing 26.6 per cent to £1.55 million.

Adjusted operating profit rose more than ten per cent to £1.43 million.

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