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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 £171,000 for the six months that ended September 30, widened from £106,000 a year before, on flat revenue of £7.2 million. Notes the recent loss includes a £200,000 investment into Beverage Metrics Inc. Otherwise, Vianet would have a £29,000 interim profit. Vianet bought the Colorado-based food-and-drink industry technology provider back in May, with £577,500 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 £924,774 from UK tax collector HMRC, boosting its cash position. Current stock price: 66.90 pence, up 5.4% in London on Wednesday 12-month change: up 26% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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