Vianet continues installations as leisure earnings fall

View 4 postsBy John Harrington , 04-Dec-2012

Related topics: Company & City News

Vianet Group, the beerflow monitoring company previously known as Brulines, has reported a fall in earnings and gross profit in its leisure division for the six months ending 30 September but says it is gaining pace with new installations.

The company had installed 669 iDraught systems and 176 new Nucleus Smart Tills, aided by further rollout with Enterprise Inns and Spirit. It said the majority of national managed pub operators had trials underway with iDraught. iDraught was also launched in the US in the period.

Pre-exceptional EBITDA in the division fell from £2.92m to £2.82m, while gross profit fell from £5.13m to £4.79m.

Overall, the group saw earnings per share increase from 4.25p to 4.47p (pre-exceptionals: 3.93p to 5.26p). Revenue declined from £11.79m to £11.19m as the firm exited lower-margin activity.

James Newman, chairman of Vianet Group, said: “The board is pleased with the progress that has been made across all of the group’s divisions during the period. The group now has the right structure in place to secure additional blue chip customers across the business. All of the divisions, whilst at different stages of development, are making good progress.

“With a number of high profile customers extending their use of iDraught, the development of significant global opportunities with the group’s vending telemetry and cashless contact solutions, as well as the further progress that has been made in the Fuel Solutions division, the board views the prospects for the group with confidence.”

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