Vianet boosted by trading update

The share price of AIM-listed internet of things data firm Vianet Group (LON:VNET) has risen by 1.69% to 120p (as of 12:00 BST) after it confirmed it was on track to meet full-year expectations. During the first four months of the financial year, the company has signed three major contracts with vending machine operators that will generate revenues of £10 million over the next 3-5 years.

Chairman James Dickson commented: “We are pleased with the contract wins, which are evidence of the Group’s positive start to the year. The Group also congratulates Craig on his appointment to head up Smart Zones, replacing Steve Alton who was recently appointed Chief Executive of pub industry body, the British Institute of Innkeeping. We have no doubt that Steve’s draught beer quality expertise and insight make him ideally suited for his new role and he leaves with our best wishes“.