Vianet Group PLC AGM Statement (4846J)
June 29 2017 - 1:00AM
UK Regulatory
TIDMVNET
RNS Number : 4846J
Vianet Group PLC
29 June 2017
Press Release 29 June 2017
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 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 Group's trading in the first two months of the current
financial year is in line with expectations and our business areas
are progressing well. The Smart Machines division, in particular
with its coffee vending connectivity and contactless payment
solution, continues to deliver growth.
Whilst the economic uncertainty around Brexit is generally
unhelpful, the impact on the Group's underlying performance should
be limited as our products and services are focussed on improving
customer profitability regardless of the economic backdrop.
As businesses increasingly seek and rely on actionable data,
business intelligence and insights, Vianet's proven IoT capability
means it is well placed to grow its position in this rapidly
evolving market. Additionally, the Group's high quality recurring
income combined with a strong balance sheet and cash flow gives
scope for investment in broadening our reach into new areas and
markets and for selective acquisitions.
Whilst our Smart Zones division customers in the pub sector
continue to face well publicised headwinds, the Board remains
confident of the Group's prospects and that the long term strategy
is the right one. 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: +44 (0) 1642
358 800
james.dickson@vianetplc.com www.vianetplc.com
Cenkos Securities plc
Stephen Keys / Camilla Hume Tel: +44 (0) 20
7397 8900
www.cenkos.com
Media enquiries:
Yellow Jersey PR
Sarah Hollins Tel: +44 (0)7764
sarah@yellowjerseypr.com 947 137
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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