Teesside data monitors Vianet expect full-year profits to be in line with expectations and up on last year’s outturn, despite continuing uncertainty around the proposed statutory code for pub companies.
The beer flow monitoring specialists, based in Stockton, issued a trading update ahead of the group’s preliminary results for the year ended March 31, saying trading in the second half of the year has been satisfactory as anticipated.
As a result, the group’s full year profits will be broadly in line with market expectations and ahead of last year’s £3.048m.
Directors said the group’s UK core beer flow monitoring operations has maintained its contribution, despite the uncertainty around the Government’s proposed statutory code for pub companies, as well as ongoing pub closures.
They said good progress also continues to be made in its vending telemetry division, with further growth in profits during the second half of the financial year.
It said the coffee vending market – as well as other telemetry solutions – offers excellent prospects for the business, and headway has been made in delivering new orders through the current financial year.
The fuel solutions division has also made further good progress, benefitting from a reduced cost base, increased activity and improved margins, which has triggered a small profit for the year and a solid pipeline into this financial year.
Chairman James Dickson said the board expects to be in a position to recommend to shareholders that the final dividend for the year is maintained at 4p.
He said: “Against a backdrop of ongoing pub closures and increased investment in the USA, the group has delivered year-on-year growth.
“Importantly, there has been solid overall progress across the business and prospects are encouraging, particularly for telemetry solutions for the coffee vending market.
“Given the group’s prospects and continued investment, the board is confident that growth will continue through the remainder of the current financial year.”