- Internet of Things technology company Vianet said it had grown first-half revenue and operating profit in line with market expectations.

The company said its smart machines division, including Vendman, had delivered a strong rise in the number of connected devices deployed, underpinned by three recent contract wins announced in August.

The contracts for a combined 20,000 units would generate in the region of £10m of revenue over their three to five-year contract terms.

Vianet has a March 31 annual balance date.

'The team has continued to make very good commercial progress, particularly with contract wins for our telemetry and payment solutions in the coffee vending and unattended retail vending market, with solid support from our Smart Zones business which is developing new revenue lines,' chief executive James Dickson said.

'Double-digit growth in the period builds on our successful recent track record and further demonstrates that the strategy of leveraging the power of our cutting edge technology to bring game changing business insight to our customers has exciting prospects.'

At 8:22am: [LON:VNET] Vianet PLC share price was +6p at 128.5p

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