Business
Trading and COVID-19 Update and Notice of Results
Trading and COVID-19 Update and Notice of Results.
About this update from Vianet Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3646V\n Vianet Group PLC\n 14 April 2021\n \n \n \n \n \n \n \n 14 April 2021\n \n \n Vianet Group plc\n \n \n \n \n \n (\"Vianet\" or the \"Group\")\n \n \n \n \n \n Trading and COVID-19 Update and Notice of Results\n \n \n \n \n \n Vianet Group plc (AIM: VNET), the international provider of actionable data and business insight through devices connected to its Internet of Things (\"IOT\") platform, today provides an update on progress and trading. We anticipate releasing results for the financial year ended 31 March 2021 on Tuesday, 15 June 2021.\n \n \n \n \n \n We believe there are significant growth opportunities for the Group as the UK emerges from lockdown and COVID-19 restrictions are lifted.\n \n From the outset of the pandemic, our principal focus has been on working closely with customers, effectively managing cash, and rationalising operations, providing a strong platform from which to capitalise as restrictions ease.\n \n \n \n \n Although the vast majority of H2 was characterised by a more challenging Government regime of enforced lockdowns and pub closures, we are very pleased to report that, notwithstanding this challenging business backdrop, trading for the period showed a slight improvement on our H1 financial performance; free operational cash flow in H2 was neutral despite one-off rationalisation costs and the delayed receipt of £0.45m which arrived post year end. \n \n \n \n \n We anticipate for the financial year end March 2021 the Group will report an adjusted operating loss in the region of £0.7m and c. £1.1m of operational cash generation. \n \n \n \n \n \n COVID-19 Update\n \n \n As a result of the success of the Government's vaccine efforts and a clear roadmap for the gradual easing of lockdown restrictions and the re-opening of hospitality and offices, we anticipate returning to more normalised trading from July. As confidence returns, we are continuing to engage with our customers and as a result we estimate that 50% of our installed sites will have re-commenced some form of trading by the end of April, with over 90% back on stream by early June. \n \n \n Unsurprisingly, the re-opening plans for some city-centre pubs may take slightly longer due to their reliance on offices re-opening or because limited sp...