News blog


  • BY: Andrew Hore |
  • POSTED: 09/10/2014 |

Fluid monitoring and machine-to-machine systems supplier Vianet says trading is in line with expectations and it will maintain its interim dividend at 1.7p a share. 

This news perked up the share price. It rose 4p to 89p a share, valuing Vianet at 24m.

Interim trading is ahead of the first half of last year and strong recurring income and a reduction in costs mean that management is confident about the full year. Loss of business from pub closures was offset by iDraught The telemetry business continued to improve its profit and installations are ahead of plan. The fuel solutions division should breakeven this year.

The company is still on course for a full year profit of 2.9m. The shares are trading on less than nine times prospective 2014-15 earnings and the yield 6.4%.

The interim figures will be published on 2 December.

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