Internet of things provider Vianet has returned to profitability telling investors it was closing in on its pre-pandemic performance.
The AIM-listed Stockton business said that it had recovered strongly following the impact of Covid on its key markets and that it would return to pre-pandemic levels in 2023 before going on to achieve double digit growth in 2024.
Revenues during the period increased 58% to £13.22m, about 81.2% of pre-pandemic levels and up from £8.37m in 2021 as the the firm said its Smart Machines business was performing well spurred by a significant contract with coffee company Lavazza. It made an operating profit of £2.36m in year to the end of March
