Drinks and vending tech firm Vianet is eyeing a significant jump in profits this year in a move that would surpass market expectations.
The North East specialist in data capture for hospitality firms says operating profits could be boosted about 30% this year to £3.1m amid contract renewals and new business. Ahead of full year results in early June, the Stockton-based firm told the London Stock Exchange it expects turnover to be up 7% to over £14m.
Vianet has weathered a challenging period in which Covid severely impacted its customer base of around 10,000 pubs and bars, and global supplies of critical semiconductor chips hampered production. However, in its latest update to investors the firm said it was returning to pre-pandemic levels of profit to cash conversion.
