Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things ("IOT") platform, today provides the following trading update and notifies that it will release its results for the half year ended 30 September 2019 on Thursday, 12 December 2019.
The Group is pleased to report that trading for the first half of the current financial year has been strong, with revenue and operating profit growth in line with market expectations.
The Smart Machines division, including Vendman, has delivered a strong year on year increase in the number of connected devices deployed, underpinned by three recent contract wins announced in August 2019. These three long-term contracts with leading vending operators for a combined 20,000 units will generate in the region of £10 million of revenue for the Group over their three to five-year contract terms.
Helped by investment in Pubco data analytics capability and technology upgrades, the Smart Zones division contribution was also robust in the first half. This performance was achieved despite delays due to Pubco corporate activity.
James Dickson, Chairman of Vianet, commented: "The team has continued to make very good commercial progress, particularly with contract wins for our telemetry and payment solutions in the coffee vending and unattended retail vending market, with solid support from our Smart Zones business which is developing new revenue lines. Double digit growth in the period builds on our successful recent track record and further demonstrates that the strategy of leveraging the power of our cutting edge technology to bring game changing business insight to our customers has exciting prospects."