Revenues and earnings rise at Vianet following investment in US business operations

North East drinks and vending tech specialist Vianet said it is looking ahead with optimism, having seen half-year revenues and earnings rise following investments in its US business.

The Stockton firm published a trading update for the six months ended September 30, including revenues increasing from £7.19m to £7.69m, and Ebitda rising by 26.6% from £1.22m to £1.55m. The group said recurring revenues account for 84% of total income, supported by healthy gross margins of 67% slightly down on comparable period’s 69%, and said the growth comes after a strategic investment of £250,000 in its Beverage Metrics Inc operation in America, underscoring its commitment to strategic and geographical expansion.

The note to shareholders highlighted an adjusted operating profit rise of 10.1% to £1.43m, and cash generation after working capital of £1.92m, up from £1.28m. Net debt has been more than halved from £2.09m to £1m and cash balances have increased to £2.25m from £1.32m. The group said expansion into new industry vertical is advancing well