1st Nov 2023 15:01
Vianet Group PLC - Stockton-on-Tees, England-based provider of retail sales and volume monitoring systems - Provides trading update ahead of release of half-year results on December 12, saying gross margins and earnings are in line with management expectations. Will report pretax loss of GBP171,000 for the six months that ended September 30, widened from GBP106,000 a year before, on flat revenue of GBP7.2 million. Notes the recent loss includes a GBP200,000 investment into Beverage Metrics Inc. Otherwise, Vianet would have a GBP29,000 interim profit. Vianet bought the Colorado-based food-and-drink industry technology provider back in May, with GBP577,500 in initial consideration paid in new Vianet shares. Vianet notes that Beverage Metrics remains loss-making, but it has "fast-tracked" Vianet's hospitality product roadmap and bolstered its presence in the US. Vianet also on Wednesday notes it received a refund of GBP924,774 from UK tax collector HMRC, boosting its cash position. Read More
