Vianet profit rises 30% amid growth in contactless payment market


Internet of Things company Vianet Group posted a 30% rise in annual profit, as the roll-out of cloud-based contactless payment solutions supported sales.

Pre-tax profit rose to £2.7m, up from £2.1m on-year, as revenue grew 7.7% to £15.7m

The company held its annual dividend steady at 5.7p per share.

'Vianet has made very good progress towards delivery of earnings breakthrough and continues to benefit from the focus on exploiting growth opportunities in the smart machines division whilst managing performance back towards growth in the smart zones division,' chairman James Dickson said.

'In the year, the historic smart zones contribution was broadly maintained whilst smart machines would have nearly doubled its operating profit had the group not moved to an annuity-based model for new sales.'

At 8:02am: (LON:VNET) Vianet PLC share price was 0p at 126.5p

Related content

Vianet forecasts annual operating loss despite second-half improvement

Pub-focused internet-of-things devices group Vianet forecast a full-year operating loss, though added that it had performed slightly better in the second half compared to the...

Wed, 14/04/2021 - 07:46

Vianet swings to loss, scraps dividend

Device supplier to hospitality businesses Vianet swung to a first-half loss and scrapped its interim dividend after sales were crunched by the pandemic.

Pre-tax losses...

Tue, 08/12/2020 - 07:54

Vianet says performing ahead of pandemic-adjusted forecasts

Technology company Vianet said its first-half trading had been ahead of its Covid-19-revised forecasts.

There had been month-on-month improvement in operating profit and cash since...

Fri, 23/10/2020 - 07:59

Vianet says profit, revenue tracking ahead of pandemic-revised expectations

Tech company Vianet said trading for the first four months of its financial year had been ahead of revenue and profit forecasts that had been...

Wed, 26/08/2020 - 07:39

Vianet profit falls 10%; scraps final dividend

Pub-focused technology group Vianet reported a 10% fall in annual profit and scrapped its annual dividend amid uncertainty created by the Covid-19 crisis.

Pre-tax profit...

Tue, 02/06/2020 - 08:04