13th Jul 2021 12:32
Vianet Group PLC - Stockton-on-Tees, England provider of retail sales and volume monitoring systems - Says profit is higher than expected after a "very encouraging" performance in the first three months of the financial year that began on April 1. Expects both its smart zones and smart machines divisions to return to more normal trading levels in the second half of financial 2022.
Says Smart Zones division is recovering in line with the pub market in the UK, with almost 90% of its pub customers open at the end of June and a return to full billing for the company. Suggests the re-opening of pubs and bars has resulted in higher demand for its draught beer monitoring and data insight service, as the hospitality industry seeks to understand the new environment.
Notes new contracts and strong pipelines for its Smart Machines division, which has benefited from the accelerated use of contactless payments and demand for remote connection to unattended retail locations during the pandemic.
"Strong engagement with customers, suppliers and employees throughout the pandemic has placed the group in an excellent position to benefit from the increased demand for data insight, remote asset management and contactless solutions as the economy recovers," Chair James Dickson tells annual general meeting on Tuesday.
Current stock price: 107.10 pence, up 3.0% on Tuesday afternoon
Year-to-date change: up 71%
By Scarlett Butler; [email protected]
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