Vianet Group PLC AGM Statement (4158D)

TIDMVNET

RNS Number : 4158D

Vianet Group PLC

26 June 2019

 
   26 June 2019 
 

Vianet Group plc

("Vianet" or the "Group")

AGM Statement

Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things ("IOT") platform, will be holding its Annual General Meeting ("AGM") today at 11.00 am at the offices of Grant Thornton UK LLP, No 1 Whitehall Riverside, Leeds, LS1 4BN.

James Dickson, Chairman, will provide the following trading update at today's meeting:

"The good momentum experienced last year has continued into the new financial year, with the Group's trading in the first two months being slightly ahead of the Board's expectations. Positive results are coming from our focus on strong growth opportunities in the Smart Machines division, whilst delivering technology upgrades for customers of Smart Zones.

Smart Machines' leading end-to-end product suite and established presence continues to create strong growth opportunities across the UK and Europe, with further contracts won in the past months. Encouraging progress has been made on the significant opportunity to overlay circa 200,000 Vendman mobile connections with higher value Smart Machines connections and cross sell from the integrated portfolio to existing customers and vending operators internationally.

The Group is making further sales investment in Smart Machines, with an extra focus on developing our capability and accelerating growth from our leading position in coffee device and contactless payment connectivity where sales progress continues.

Building on the momentum from several major customer technology upgrade programs, the Smart Zones division is currently trading marginally ahead of last year, as the Group manages performance back towards growth whilst advancing prospects both in the UK pub market and significant US hospitality market.

The Group is in good shape to deliver strong earnings growth and to expand the future strategic options for Vianet. This is reflected in the Board's decision to recommend maintaining the final dividend at 4p per share."

- Ends -

Enquiries:

 
 Vianet Group plc 
 James Dickson, Chairman       Tel: [phone] 
                                                 800 
 [e-mail]       www.vianetplc.com 
 
 
 Cenkos Securities plc 
 Stephen Keys / Cameron MacRitchie   Tel: [phone] 
                                                     8900 
                                           www.cenkos.com 
 

Media enquiries:

 
 Yellow Jersey PR 
 Sarah Hollins                               Tel: [phone] 
  Henry Wilkinson                                             137 
  [e-mail]                  Tel: [phone] 
                                                              336 
                                           www.yellowjerseypr.com 
 

About Vianet

Vianet Group is a leading provider of actionable management information and business insight created through combining data from our smart Internet of Things ('IOT') solutions and external information sources.

Since Admission to AIM in 2006, the Group has grown from its core beer monitoring business both organically and through strategic acquisitions to widen its offering and also develop new businesses, especially in vending telemetry and contactless payment solutions particularly for the premium coffee sector.

Servicing over 300 customers across the world and rendering live data to our IOT platform from over 250,000 connected machines daily, Vianet is one of the largest business to business (b2b) connected solutions providers in Europe with established long term relationships with blue chip customers and growing recurring revenues which are over 85% of our total revenues.

In our Smart Machines Division we connect a single data gathering device with its own on-board communication capability to a customer's asset or system. The device then sends data back via our IOT platform to cloud based servers. The technology was originally developed for automated retailing machines, however the flexibility and functionality of the device means the technology can be applied to practically any machine which has the capability to output data. The device is also used to connect our contactless payment solution and communicate payment terms to our cloud based payment services providers where that application is also required.

The Smart Zones Division is where we connect multiple data gathering devices into one or more systems or assets with the data from those devices being communicated back to our IOT platform and cloud based servers via a single 3G communications hub. The technology was originally developed for flow monitoring devices, temperature sensors, and asset management in drinks retailing but practically any data gathering device with a digital output could be connected to the communications hub where required such as gaming machines, utilities management and EPOS.

For further information, please visit www.vianetplc.com

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June 26, 2019 02:00 ET (06:00 GMT)