- Internet of Things specialist Vianet Group posted a fall in first-half profit as revenue fell and costs rose.

Pre-tax profit of £0.90m compared to £1.13m profit a year earlier, dragged lower by £0.19m worth of corporate acquisition costs.

"Underpinned by high levels of recurring revenue, group cash flow is strong and there is a solid financial platform to facilitate further expansion and development," the company said.

"The board remains confident that Vianet's long term strategy is appropriate and that the Group is capable of delivering consistent and sustained growth."

Story provided by