Fluid monitoring and machine-to-machine systems supplier Vianet made progress in the first half even though uncertainties about the tied pub sector continue.
In the six months to September 2014, revenues improved from £9.01m to £9.14m, while underlying profit rose from £1.3m to £1.52m as fuel services returned to profit and the vending division improved its contribution.
The statutory code for pub companies is in legislation that could be in law next spring, although there may be legal challenges from pub companies. The continued uncertainty is hampering Vianet so any firm outcome will settle the market for fluid monitoring systems. Vianet is still growing sales of its iDraught product and associated cost savings are offsetting the negatives of pub closures and legislation uncertainties.
As expected, Vianet maintained its interim dividend at 1.7p a share.
At 77p a share, an unchanged total dividend will provide a yield of 7.4%.
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