Stockton's Vianet confirms growth on last year's performance

Vianet which supplies beer volume monitoring tools and data services to petrol forecourt operators among functions, says growth is in line with board expectations

James Dickson of Vianet
James Dickson of Vianet

Vianet Group, the North East real time monitoring and data management providers to the leisure industry, say trading in its first half is ahead of that last year.

The Stockton-based firm, which supplies beer volume monitoring tools and data services to petrol forecourt operators among functions, says growth is in line with board expectations.

An update to shareholders this morning, ahead of the firm’s first half results in December, said orders within the group’s iDraught business were helping to mitigate the impact of pub closures.

The iDraught product scrutinises the quality of products running through beer lines in a bar; measuring volume, temperature, flow rate and liquid type.

Sales of the product, together with cost efficiencies were said to be benefiting the group whilst what it described as “pressure on trading” remained in the pub sector, ahead of the implementation of the Government’s new Statutory Code - which is intended to support pub tenants.

Vianet also reported progress in its Vending Telemetry systems, which connect manufacturers and suppliers to their products remotely.

The group identified particularly strong performance in this business across the coffee market, and expected further growth into its second half.

Elsewhere, the Fuel Solutions Division was said to have made “reasonable progress” in the period, and thanks to a reduced cost base and higher margin activity, breakeven in the business was anticipated.

James Dickson, the group’s chairman, said: “Whilst trading in the pub sector has been challenging, Vianet has nevertheless made good progress and prospects, particularly for telemetry solutions for the coffee vending market, are encouraging.

“The benefits of the actions taken to reduce costs are being steadily realised and further cost reduction initiatives are being implemented.

“Given the Group’s prospects and strength of recurring income, the Board is pleased to state its intention to maintain the proposed interim dividend.”

Vianet, which employs around 120 at its Stockton headquarters, reported a dip in revenues and pre-tax profits in June.

At the time Mr Dickson explained the firm was moving away from the low-margin liquid petroleum gas maintenance market on petrol forecourts, hence the fall in revenues.

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