- Internet of Things company Vianet Group posted a 30% rise in annual profit, as the roll-out of cloud-based contactless payment solutions supported sales.

Pre-tax profit rose to £2.7m, up from £2.1m on-year, as revenue grew 7.7% to £15.7m

The company held its annual dividend steady at 5.7p per share.

'Vianet has made very good progress towards delivery of earnings breakthrough and continues to benefit from the focus on exploiting growth opportunities in the smart machines division whilst managing performance back towards growth in the smart zones division,' chairman James Dickson said.

'In the year, the historic smart zones contribution was broadly maintained whilst smart machines would have nearly doubled its operating profit had the group not moved to an annuity-based model for new sales.'

At 8:02am: [LON:VNET] Vianet PLC share price was 0p at 126.5p

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