21 October 2026
Vianet Group plc
("Vianet", the "Company" or the "Group")
Trading Update and Notice of Results
Strong H1 Profit and Cash Growth, Interim Dividend Doubled
Vianet Group plc (AIM: VNET), the international provider of actionable data, business insights and payment solutions to the hospitality and unattended retail sectors through connected hardware, software platforms, and increasingly AI-enhanced analytics, provides a trading update for the six months ended 30 September 2026 ("H1 2027"). The Group expects to announce its interim results on 1 December 2026.
The Group delivered a positive first-half performance, with adjusted operating profit increasing 14%, statutory profit before tax rising to £0.67m and free cash flow increasing 88%. Strong cash generation supported a move to net cash of £0.75m at the period end.
Financial Highlights- Adjusted operating profit up 14% to £1.80m (H1 2026: £1.58m), before exceptional items and share-based payments.
- Adjusted operating margin increased to 22.9% (H1 2026: 20.6%).
- Statutory profit before tax increased to £0.67m (H1 2026: £0.26m).
- Adjusted EBITDA increased 12.5% to £2.11m (H1 2026: £1.87m).
- Group revenue increased 2.6% to £7.86m (H1 2026: £7.67m) with recurring revenue up 2.3% to £6.59m (H1 2026: £6.44m), representing approximately 84% of Group revenue.
- Gross profit increased to £5.37m, with gross margin of 68.2% (H1 2026: £5.21m; 67.9%).
- Cash generated from operations increased 18% to £2.04m (H1 2026: £1.73m), equivalent to 97% of adjusted EBITDA (H1 2026: 92%).
- Free cash flow increased 88% to £0.94m (H1 2026: £0.50m).
- Cash balances increased to £3.61m (30 September 2025: £2.57m).
- Net cash was up £1.24m to £0.75m (30 September 2025: net debt of £0.49m).
- Proposed interim dividend doubled to 0.8p per share (H1 2026: 0.4p), reflecting the Board’s confidence in the Group’s cash generation and recurring income base.
Trading conditions in hospitality and unattended retail continue to reflect economic uncertainty and pressure on consumer spending. The Group’s contracted recurring revenue base and cost discipline have supported profit growth, with divisional overheads reducing by 6.7%.
Market DevelopmentsHospitality – UK and USA
Hospitality revenue, including the USA, increased approximately 6.3% to £4.99m (H1 2026: £4.70m), with recurring revenue increasing to £4.37m (H1 2026: £4.21m). In the UK, customer engagement remains positive, supported by the Group’s broader beverage management and analytics capabilities.
In the United States, revenue increased by 60%, supported by the successful deployment of Beverage Metrics across an initial 100 restaurants for a leading US hospitality group with an estate exceeding 2,000 locations. The rollout represents an important operational milestone, demonstrating the scalability of Vianet's technology and providing a platform from which to explore further opportunities within the customer's wider estate. The Group continues to develop existing customer relationships and progress opportunities through its strategic partnership with Fintech.
Unattended Retail – UK and Europe
Unattended Retail revenue was £2.87m (H1 2026: £2.97m), reflecting lower hardware sales, while recurring revenue remained broadly stable at £2.22m. Despite lower revenue, divisional contribution increased 7.7% to £0.98m (H1 2026: £0.91m). The division deployed 1,809 new cashless devices, taking its cashless estate to 27,313, approximately 75% of connected devices. The focus remains on long-term contracted recurring income through cashless payments and connected-device services.
OutlookThe Board is pleased with the first half performance, particularly the progress in profitability, cash generation and the net cash position. Although the wider economic environment remains uncertain, the Group benefits from contracted recurring income, established customer relationships and a healthy pipeline. The Board continues to anticipate full year results in line with its expectations.
Craig Brocklehurst, Chief Executive Officer, commented:
“We have made good progress in the first half, with adjusted operating profit up 14%, free cash flow increasing 88% and the Group moving into a net cash position. This reflects the benefits of operational improvements and continued financial discipline.
“Hospitality continues to develop positively in the UK and United States, while Unattended Retail remains focused on profitable, long-term recurring revenues.
“The proposed doubling of the interim dividend reflects the Board’s confidence in the recurring income base and cash generation, while retaining capacity for disciplined investment in future growth.”
Investor PresentationThe management team expects to present the interim results through Investor Meet Company on 1 December 2026 at 11.00 a.m. Investors can register at https://www.investormeetcompany.com/vianet-group-plc/register-investor.
– Ends –
EnquiriesVianet Group plc — James Dickson, Chairman; Craig Brocklehurst, Chief Executive Officer; Sarah Bentham, Chief Financial Officer. Tel: +44 (0) 1642 358 800 | www.vianetplc.com
Cavendish Capital Markets Limited (Nominated Adviser and Broker) - Stephen Keys / Isaac Hooper. Tel: +44 (0) 20 7220 0500
About VianetVianet Group plc (AIM: VNET) provides operational intelligence and intelligent payment solutions for hospitality and unattended retail. Its connected hardware, cloud software and analytics help customers improve productivity, reduce waste and enhance profitability.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.