Vending and drinks tech maker has seen an increase in revenue and operating profits thanks to an "evolving market" and sales strategies providing a turnaround.
The Stockton-based provider of telemetry-based systems to unattended retail operators and hospitality businesses said revenue had grown 7% across the six months to the end of September, to £7.69m, while operating profit was boosted 10.1% to £1.43m in the same period. Shareholders on the London Stock Exchange were told Vianet had returned to pre-tax profitability, with a loss of £171,000 in the first half of last year converted to a pre-tax profit of £18,000.
Net debt reduced to £1m, from £2.09m in the same period last year, and backed by cash reserves of £2.25m. Vianet's dividend also returned at 0.3p per share - which it said indicated confidence in the future.
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Sales were up across the firm's core divisions, including a 16.5% rise in like-for-like sales in unattended retail to 3,659 units sold and revenue growth of 6.2% to £3.24m. That performance included expansion of Vianet's presence in the petrol forecourt sector with the installation of 1,900 units for Rontec and Wilcomatic.
Across its hospitality division, Vianet saw turnover increase 7.3% to £4.45m and adjusted operating profit rise 12.2% to £2.2m. Successes there also included new work with big name operators, such as a five-year renewal with Heineken's Star Pubs & Bars and a post-period renewal for five years with Greene King.
James Dickson, chairman and CEO of Vianet, said: "I am personally delighted with this set of financial metrics. It is a testament to the dedication and work ethic of the entire team. Our performance continues to build momentum and is supported by a strong sales pipeline and exciting commercial opportunities across the business which enable me to feel very confident about the group's future performance. This confidence is also manifested in the Board's decision to re-instate the interim dividend.
"As cost pressures rise across the board for our customers, our solutions become increasingly valuable by helping them reduce costs, enhance efficiency, and drive growth. With a dynamic team, an innovative product range, strong recurring income streams, and a robust sales pipeline, we are well-positioned to deliver sustained growth and execute our long-term strategic vision. My confidence in the group's prospects has never been stronger."
Mark Foster, CFO, said: "Our operational cash generation remains a highlight, with £1.92m generated after working capital adjustments, representing 124% of EBITDA. This strong cash conversion, coupled with reduced net debt underpins our robust financial position.
"Exceptional costs decreased to £110,000, reflecting lower restructuring and acquisition expenses compared to H1 2024. Our improved banking facilities have enhanced our financial flexibility, supporting ongoing operations and growth initiatives. Looking ahead, we are confident that our investments in technology, strategic acquisitions, and new market opportunities will continue to deliver strong financial results."