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Advania, the Goldman Sachs Asset Management portfolio company headquartered in Sweden, has announced its FY24 results.
Gross revenue (which includes agent software sales) hit SEK 17.2bn (roughly £1.34bn). Net revenue came in at SEK 15.1bn (+11.3%) but including the impact of acquisitions was SEK 18.4bn. The adjusted EBITBA margin was 11.8%. Advania has c.4,800 employees and more than 30,000. It is a reseller of hardware and software and provides services covering cloud, cyber, infrastructure solutions, and managed services.
There has been quite some activity in the UK business during the financial year. In June 2024, the company acquired Servium. This built on the 2021 acquisition of Content+Cloud. Then later in 2024, Advania acquired CCS Media. The acquired businesses add breadth to the Advania UK business, which is led by CEO, Geoff Kneen. This year he moved James Hardy (Chief Commercial Officer) and Paul Barlow (Chief Revenue Officer) into leadership roles from their existing positions in CCS and Servium respectively. We estimate about half of the UK’s revenue is derived from resale.
With healthy financials, a growing footprint in the mid-markets of Northern Europe, and the backing of Golman Sachs, Advania is most definitely one to watch.
Posted by: Kate Hanaghan at 10:57
Tags:
results
VAR
IT services and solutions provider Roc Technologies, in partnership with HPE Aruba Networking, has announced that it has successfully updated the network infrastructure of the Alliance Manchester Business School (AMBS) – part of the University of Manchester.
Higher Education represents a significant percentage of Roc’s business (c.40%, as of late last year – see Roc targets growth via four big bets) with a focus on cybersecurity, sustainability, student experience, and faculty support.
The update features AI-enabled tooling, including HPE Aruba networking’s Central NetConductor platform (which automates network deployments and ongoing management, helping to ensure optimum availability, reliability, and data security. The platform boasts automated policies that enable the AMBS to ensure that sensitive information (such as research data) is automatically kept confidential from other network users.
Initial feedback from AMBS has 85% of staff now rating WiFi satisfaction at four-out-of-five stars, ticking Roc Technologies’ “student experience” and “faculty support” boxes too.
Following this successful project at the business school, the company is now planning to work with the university to extend roll-out across the institution.
Posted by: Craig Wentworth at 10:06
Tags:
network infrastructure
roll-out
Out now is “Computacenter: Building long term value”, by Kate Hanaghan, Chief Research Officer. It is available to members of the Foundation Service, TechSectorViews, and TechMarketView’s Tech User Programme.
As Mike Norris celebrates 30 years as CEO, we take a look at the company in 2025 and the ways in which he has left his mark. During his time in the role, 
Mike has overseen the transformation of Computacenter. What started as a PC reseller serving the City of London has become a global Group with multi-country revenue streams from three service lines.
Mike joined Computacenter as a Maths graduate in the 1980s. He initially worked in sales and within a decade was CEO. A major milestone occurred in 1998 when he led the flotation of Computacenter on the London Stock Exchange. While it’s not unusual for a Board to change its CEO as the company moves through different phases of development, Mike has not only stayed in role but has very much been a driver of change.
Mike believes there have been two really “big moments” or step changes in Computacenter’s history. Without doubt, there was a shift in gear when the firm went from being UK based to being an international business.
The other was when Computacenter won the BT contract in 1996 (at the time, it was the UK’s largest PC supply deal). He told us: “We went from being an average player to a significant player. It catapulted us to another level. I personally did the closing pitch, and after we won that deal, we never looked back.”
In this report, we look at some of the way in which Norris continues to drive the business forward, growing significantly its number of “major customers”: individual clients that generate more than £1m of gross profit per year for the company. We also examine how Computacenter is evolving its Circular Services business and the financial performance of the firm, particularly in Managed Services.
Members of our research programme can read it here: “Computacenter: Building long term value”. If you are not able to access the report, please contact Belinda Tewson.
Posted by: HotViews Editor at 10:00
Tags:
CEO
VAR
Posted by: HotViews Editor at 09:40
Google parent Alphabet began 2025 with a strong Q1, reporting revenues up 12% yoy to $90.2bn, or 14% in constant currency. The tech giant saw double-digit growth across all major divisions; Google Search, YouTube ads, subscriptions, and Google Cloud. Google Services generated $77.3bn, while Cloud revenues surged 28% to $12.3bn, fuelled by robust demand for AI infrastructure and generative AI solutions. Operating income rose 20%, with margins expanding to 34%, while net income jumped 46%.
CEO Sundar Pichai credited the results to Alphabet’s full-stack AI strategy. The launch of Gemini 2.5, its most advanced model to date, helped power growth across products, especially in Search, where AI Overviews now attracts over 1.5bn monthly users. Subscriptions passed 270m paid users, led by YouTube and Google One.
Still, policy and regulatory pressures could cloud Alphabet’s outlook. Pichai flagged a “slight headwind” to 2025 ad revenues due to the rollback of de minimis tariff exemptions, with Chinese retailers like Temu and Shein expected to cut spend amid steep U.S. import tariffs. Meanwhile, Alphabet faces two major antitrust cases in the U.S., one already ruling it a monopoly in ad tech, and another challenging its dominance in search. A potential forced breakup could reshape the company’s future.
Elsewhere, the company continues to deepen its roots in the UK and across Europe. Kate Alessi has been named Google’s new UK managing director, stepping into the role this June to oversee a 7,000-strong workforce (See - Google appoints Alessi as new UK MD). Google Cloud is also gaining traction with large enterprises in the UK, for example Lloyds Banking Group announced earlier this month that its ongoing transformation has taken a major step forward with the help of Google Cloud’s AI and data science capabilities (See - Google Cloud AI helps drive Lloyd's transformation). In the energy sector, Google is pushing into climate tech, announcing a series of collaborations with energy firms to deploy AI in areas such as grid optimisation and emissions forecasting (See - Google Cloud announces AI for energy and climate projects).
Posted by: Simon Baxter at 09:29
Having entered FY25 on a downward trajectory (see here), Tech Mahindra’s “turnaround year” saw the company both back (just) in positive top line growth territory and delivering much improved profitability. For the twelve months ended 31st March, revenue at the offshore major increased at constant currency by 0.3% yoy to $6.26bn with the associated EBITDA margin improving by 370 bps to 13.2%. There was positive news too on the business winning front. Tech Mahindra’s net new deal TCV in FY25 jumped by 42% yoy to $2.7bn.
Beneath the headlines, however, the performances across the company’s vertical sector and regional business portfolio were more of a mixed bag. Together accounting for around half of global turnover, sales in Tech Mahindra’s two largest industry focused units, communications and manufacturing, both declined in FY25. Conversely, revenue for the period from the financial services, retail & transport and health & life sciences segment groupings all delivered mid-single digit improvements.
From a geographic perspective, it was the company’s activities outside the Americas and Europe that showed the greatest resilience. Turnover in the “Rest of the World” was up by more than 4% yoy in FY25 to represent about a quarter of firm-wide sales. The Americas failed to return to positive growth during the year. Europe, after a slow start, picked-up momentum through the latter part of the fiscal to finish the period with revenue of c.$1.5bn, broadly flat against FY24.
No forward guidance was provided for either the current quarter or FY26. Tech Mahindra CEO and Managing Director, Mohit Joshi stated that he believes that the company has laid a strong foundation for its transformation journey. There were, however, one or two more worrying signs in the Q425 numbers that impetus may be waning. The period saw firm-wide revenue decline sequentially driven by an accelerating slowdown of business in the Americas. With global trading headwinds stiffening, Tech Mahindra may well find reigniting growth over the next twelve months to be a tall order.
Posted by: Duncan Aitchison at 09:14
Tags:
results
offshore
IT+services
Sopra Steria's wholly-owned subsidiary SSCL has secured a significant three-year contract extension worth over £300m in total value, to continue delivering essential business services for six major UK government departments, led by the Department for Work and Pensions (and also covering Department for Environment, Food & Rural Affairs; Health and Safety Executive; Home Office; Ministry of Justice; and Office for Nuclear Regulation.)
This extension, part of the government's 'Synergy' procurement program, builds on SSCL's 12-year partnership with 22 government clients that already claims some £950m in savings. The agreement covers a range of back and front office services spanning finance, pensions admin, payroll, procurement, and contact center support through to at least 2028. A key component of the extension involves migrating departments to a new Oracle Fusion platform, laying groundwork for a forthcoming 10-year BPS contract expected to be awarded next year.
SSCL is core to the performance and future of Sopra Steria’s UK business and this win reinforces its strong position in the UK public sector market, where digital sovereignty concerns are increasingly prominent, and demonstrates the government's confidence in SSCL's transformation capabilities and efficiency focused service delivery model.
Posted by: Marc Hardwick at 09:11
Tags:
central+government
contract award
ServiceNow has delivered robust Q1 2025 results (for the period ended 31st March 2025), exceeding guidance across all topline growth and profitability metrics as its AI-driven transformation strategy continues to gain traction.
The company reported total revenues of $3,088m for the quarter, up 19.5% year-over-year in constant currency, with subscription revenues representing 97.3% of that total ($3,005m, up 20% yoy ccy).
ServiceNow surpassed the milestone of 500 customers with more than $5m in annual contract value, and executed 72 transactions over $1m in net new annual contract value, during the quarter. The company also expanded its agentic AI capabilities with the Yokohama release of its platform in February, and acquired agentic AI solutions firm Moveworks (see ServiceNow acquires Moveworks for $2.9bn) and AI-driven Configure Price Quote specialists Logik.ai (see ServiceNow strengthens CRM creds with Logik.ai buy) to strengthen its AI assistant and CRM capabilities, respectively.
Looking ahead, ServiceNow provided guidance for Q2 subscription revenues of $3,030-$3,035m (representing 19%-19.5% growth yoy) and full-year subscription revenues of $12,640-$12,680m (representing 18.5%-19% growth).
Posted by: Craig Wentworth at 08:59
Tags:
results
WNS saw its share price dip nearly 5% yesterday on FY results that outlined stalling/falling revenue and profitability. WNS is a focused BPS specialist that has showcased some degree of resilience in what has been a pretty challenging year that saw the business revise down guidance back in January (see here) on the loss of a major Healthcare client and reduced volumes in the online travel segment.
For Q4 FY25, WNS reported revenue of $336.3m, down marginally by -0.2% YoY, but up 1.0% sequentially. Profit increased to $50.8m compared to $14.5m in Q4 of last year, primarily due to a goodwill impairment charge in the prior year and a $12.2m facility asset sale in India last quarter. For the full year FY25, revenue was $1,314.9m, down -0.6% from FY24, while adjusted net income was $208.7m versus $218.0m in the previous year.
Operationally, WNS added 9 new clients and expanded 50 existing relationships in Q4. The company also completed the acquisition of Kipi.ai, enhancing its capabilities in data, analytics, and AI - a move that aligns with growing market demand for integrated data and AI solutions (as we discussed here).
Looking ahead, WNS has provided optimistic FY26 guidance, projecting revenue less repair payments between $1,352-$1,404m, representing 7-11% growth. The company enters FY26 with 90% visibility to its revenue projection midpoint, including a 2% contribution from the Kipi.ai acquisition. CEO Keshav Murugesh highlighted the company's progress, noting, "Despite top-line headwinds in fiscal 2025, the company continued to make progress on our strategic investments and position the business for long-term success."
Over recent weeks there has been plenty of speculation (all unconfirmed and attributed to unnamed sources) that have linked WNS to acquisition by a range of potential suitors including Capgemini. Whilst WNS’s offer would certainly fit well with global SIs light on BPS capabilities, we will just have to wait and see how this plays out.
Posted by: Marc Hardwick at 08:38
Tags:
results
Carbon accounting software provider 51toCarbonZero has raised £3m in a funding round led by existing investor Fuel Ventures.
51toCarbonZero’s platform measures companies’ carbon footprints (through over 100 integrations, APIs, AI and OCR tech) and helps them transition to net zero by setting accountable plans that focus on securing and maintaining employee engagement whilst providing real-time data and actionable insights.
The company specialises in advertising, sports, and entertainment; and its partnership with media & advertising focused decarbonisation specialists Scope 3 last May was one of the activities logged in TechMarketView’s upcoming Sustainability Technology Activity Index.
The new funding will be used to enhance 51toCarbonZero’s platform (incorporating further AI measures) and scale its operations into more sectors (including food & beverage and automotive).
Look out for the latest Sustainability Technology Activity Index reports, coming soon – with in-depth analysis of the global picture (segmented by sector, use case area, and technology) and what the activity trends are telling us in uncertain times, plus deep dives into the UK market specifically. This research is available only to subscribers of SustainabilityViews. If you are not yet a subscriber, or are unsure if your company has a subscription, please contact Belinda Tewson to find out how you can gain access.
Posted by: Craig Wentworth at 10:08
Tags:
funding
carbon accounting
Israel HQ’ed Cybersecurity supplier Check Point has kicked off 2025 with continued positive momentum, reporting a 7% yoy increase in revenues to $638m for Q1. The firm also saw a security subscriptions revenues grow by 10% to $291m and a 17% surge in cash flow from operations, reaching $421m.
Product and licence revenues grew by 14%, driven largely by robust demand for the company’s Quantum Force appliances (AI-enhanced firewalls and gateways) and the firms Infinity Platform. The EMEA region accounted for 45% of total revenues, up 5% yoy, signalling solid international traction.
Nadav Zafrir, now 100 days into his role as CEO (See - Check Point begins 2025 with new CEO at the helm), described the quarter as a "solid foundation" for the year ahead. Zafrir has outlined a refreshed go-to-market strategy, with a notable focus on workforce security. A new division dedicated to this area is being built into the broader Infinity Platform, leveraging the company’s existing assets such as Threatcloud AI.
While Check Point’s growth remains in the single digits, lagging behind high double-digit growth from rivals such as Palo Alto Networks, Fortinet and CrowdStrike, the company is aiming to differentiate itself through providing a hybrid mesh security architecture. This approach integrates on-premise, Cloud, SASE, and edge security, aiming to provide a flexible, comprehensive defence framework.
AI is also central to Check Point’s future, not only to bolster cybersecurity against evolving threats but also to improve internal operations. The firm recently launched an AI Copilot for its Infinity platform, offering contextual, generative AI-driven assistance to security teams by drawing from user-specific policies and system-wide data. Partners are also playing a growing role in the firms go-to market. In February, Check Point announced a strategic partnership with Wiz to tackle hybrid cloud security, bridging the gap between traditional network protection and Cloud Native Application Protection (CNAPP).
Looking ahead, the company is maintaining its FY25 growth forecast of 4–8%, with a strong pipeline for Q2 and minimal anticipated disruption from global tariff changes, though management noted the fallout may be too early to tell given purchasing cycles and so is something that is being closely watched.
Posted by: Simon Baxter at 10:00
Lloyds Banking Group has deployed AI technology from FICO (Fair Isaac) to help accelerate the migration of its lending infrastructure to the cloud. According to the UK bank, the FICO platform, has enabled it to launch a new cloud-based application for its underwriters and facilitated a significant bureau data upgrade in weeks rather than months.
Lloyds lending infrastructure previously had more than twenty applications coupled with a variety of complex data flows. By its own admission, it legacy technology architecture had been an inhibitor of business growth. Coupled with inconsistencies across its digital channels, Lloyds had struggled to integrate new data assets, creating barriers to responsible lending, scalability, and sustainability. Using real-time data and advanced analytics the new FICO-developed platform has enabled Lloyds to achieve a 2.5% uplift in credit card approvals, whilst doubling new loan customers.
The bank's strategy required a large data mapping exercise to understand where derivations or changes to the data could be occurring through the various systems. The exercise enabled the organisation to prepare downstream users of the data for changes or amend the new data in order to not impact them at all. The new platform has enabled Lloyds to simplify its technology estate and implement a modern cloud-based infrastructure.
The FICO project is the latest significant step forward in Lloyds’ cloud transformation journey. Earlier this month the Bank highlighted how is migration to the Google Cloud platform had revolutionised its use of AI and its ability to deploy impactful use cases. Lloyds has so far migrated 15 modelling systems, from its in-house infrastructure comprising hundreds of individual AI models (see: Google Cloud AI helps drive Lloyd's transformation).
Posted by: Jon C Davies at 09:53
In line with the trading update issued in February (see here), H125 revenue at Tracsis declined by 1% yoy to £36.3m. The previously signposted £1.1m revenue discontinuation resulting from the Network Rail Control Period 7 funding also took a significant toll on the bottom line of the Leeds-HQ’d provider of software and services to the rail and transport industries. The six months ended 31st January saw the company’s adjusted EBITDA drop by a third yoy to £3.8m with the associated margin shedding 504 bps to stand at 10.5%.
Despite the uncertainties regarding the impact of recently announced US tariffs on procurement activity by rail-served ports, freight operators and industrials in North America, Tracsis remains optimistic that its second half fortunes will improve significantly. Without further material contract wins, the Board expects FY25 adjusted EBITDA to be in the range £12.5m - £13.5m. The company also reports making good progress against its strategic objectives: focusing the business on higher-margin technology solutions; growing annual recurring and transactional revenues; and expanding its international presence.
The publication this morning of its interim results was followed shortly afterwards by an announcement by Tracsis of its intention to launch a buyback programme of up to £3.0 million. The initiative will see the repurchase and cancellation of c.5% of the company's Ordinary Shares. Despite the promise of returning surplus capital to shareholders, market reaction has been muted. At the time of writing, the Tracsis’s share price was down by 2.6% in early trading to leave it almost two thirds lower than its value twelve months ago. Investors do not yet appear to share CEO, Chris Barnes’s confidence in the company’s prospects.
Posted by: Duncan Aitchison at 09:49
Tags:
results
software
transportation
LTIMindtree Europe slipped back into yoy top line decline in Q4 after a brief dalliance with a return to growth in the prior quarter. Revenue in the territory for latest financial year as a whole shrank by 1.2% at constant currency to $633m. Worldwide, the twelve months ended 31st March saw turnover at the aspiring India Tier 1 vendor improve by 5% yoy to $4.48bn, supported by robust sales performance by the company’s North America region. EBITDA margin for the period dipped by against FY24 120 bps to 14.5%.
From an industry market perspective, LTIMindtree’s Banking, Financial Services and Insurance (BFSI) sector business continued to regain momentum during Q4 after a slow start to the year. The most recent quarter saw segment revenue increase by 12% yoy to $477m. There was also a notable uptick in demand during the final three months of the fiscal from the company’s manufacturing clients. Sales in this vertical for the period rose by 13.3% yoy to account for just shy of a fifth of global turnover.
As is LTIMindtree’s habit, no forward guidance was provided for either the current quarter or FY26. The firm did, however, experience sequential declines in both revenue and order inflow in Q425. With the macro challenges increasing, recently appointed new CEO, Venu Lambu (see here) faces a tough first year at the helm.
Posted by: Duncan Aitchison at 09:36
Tags:
results
offshore
IT+services
One we missed… highly unusual, I know. A couple of weeks ago, CACI Limited acquired Identity E2E Limited (IdentityE2E), a specialist UK technology consultancy and engineering company focused on national security.
Founded in 2013, IdentityE2E brings expertise in biometrics, DevOps, cloud engineering, and Quality Assurance Testing (QAT) to CACI's roster. The company has established a strong position with central government clients and has been involved in high-profile Critical National Infrastructure (CNI) projects. While financial terms weren't disclosed, Companies House records show IdentityE2E employed an average of 35 people in FY24.
For CACI Ltd, this acquisition represents another strategic addition to its national security and critical infrastructure business. Tracy Weir, who took over as President and CEO in November 2024, commented that IdentityE2E's "important position in the government space is a testament to both the capability and calibre of their people."
The UK arm of CACI appears to be on an acquisition spree, having also acquired Rowe IT in May 2024 (software engineering, systems integration, and data analytics for government and defence clients) and Cyber-Duck in November 2023 (a digital transformation agency specialising in UX and open-source technologies). These deals are helping CACI build scale in specialised areas through organic growth and strategic acquisitions.
CACI Ltd's results for the year ending 30th June 2024 showed revenues of £165m, up 14.8% year-on-year. Acquisitions contributed £7.6m to turnover in FY24 (compared to just £890K in FY23), indicating an accelerating inorganic growth strategy. With strong cash reserves (£61.1m, up from £50.1m in 2023), healthy profit performance (operating profit of £31.9m, up 15%), and a clearly stated strategy "to profitably grow the Company, both organically and through acquisition," CACI alooks set for continued expansion in the UK market.
Globally, US-headquartered parent company CACI International Inc. has acquired >40 companies over its life, including five in the last five years. Its largest acquisition came earlier this year when it acquired Azure Summit Technology for $1.3B. The parent company's focus on national security capabilities in the US appears to be mirrored in the UK subsidiary's acquisition strategy, highlighting a coordinated global approach to building expertise in this sector.
For IdentityE2E, joining CACI offers greater scale and resources. Co-founder and CEO Richard Garner noted that the deal gives them "more power, resources and support to provide scalable, adaptive solutions to organisations of national importance."
With UK government organisations continuing to prioritise digital transformation and national security investments, CACI appears to be strategically positioning itself as a major player in this space through targeted acquisitions of specialised capability providers.
Posted by: Georgina O'Toole at 09:34
Tags:
M&A
CNI
acquisitions
public+sector
national security
DXC Technology has announced another senior appointment within its Insurance Software and Business Process Services arm, with the arrival of William ’Bill’ Pieroni. Pieroni (pictured below) will take up the role of Global Strategy and Growth Leader focusing on strategy, growth and long-term industry impact.
Bill Pieroni is a respected figure within the global insurance community and brings more than 25 years of experience to DXC. During his career, Bill has held senior roles at Marsh McLennan, Aon, State Farm, IBM, Accenture, and McKinsey. Most recently, he was CEO of ACORD, the standards organisation body for the global insurance industry. During his time there he established the ACORD Solutions Group, focusing on data exchange and platform innovation across the insurance value chain.
Commenting on his latest appointment, Ray August, DXC’s President of Insurance Software and Business Process Services, said “Bill is a proven strategist and respected leader with deep domain expertise and a global perspective… His appointment reflects our commitment to industry leadership, intelligent growth and long-term value creation.”
Bucking the trend of the wider organisation, DXC’s Insurance Software and BPS unit has been enjoying significant go-to-market success of late, with revenue up 3.3% to $1.54bn in the most recent full-year (see: DXC goes “back to the future” for insurance success). As a result, Ray has continued to expand his team of industry focused specialists, in order to equip DXC with the resource capacity to meet the burgeoning demand for its services.
Posted by: Jon C Davies at 09:31
Tags:
insurance
DXC
London-based Capably has raised $4m in seed funding to accelerate adoption of its automation platform that bridges the gap between traditional RPA and newer AI agent technologies. The funding round was led by Boost Capital Partners with participation from multiple European and US investors.
The startup addresses persistent pain points in the automation landscape: traditional RPA systems have proven technically complex and maintenance-heavy, while newer LLM-powered AI agents lack the reliability needed for mission-critical business processes.
Capably's solution combines structured automation with AI flexibility, creating "Agentic workflows" - autonomous systems operating within human-defined parameters. The platform works across departments without requiring specialised training.
According to co-founder and CEO Rafa Pulido, Capably aims to cut through market noise and help organisations realise tangible business value from AI investments – particularly in helping address high percentage failure rate of AI implementation efforts.
The funding comes amid renewed enterprise interest in intelligent automation solutions that don't require deep technical expertise. With its no-training-required approach, Capably is positioned well to capture mid-market companies seeking accessible AI-powered productivity gains.
Posted by: Marc Hardwick at 09:24
Tags:
software
AgenticAI
Futureofwork
AIM-listed ‘Decision Intelligence’ software provider ActiveOps, reported an impressive performance for FY25 with double-digit revenue growth and good cash generation in this morning’s FY results trading update, positioning the company well for future expansion.
The company achieved 13% revenue growth (15% in constant currency) to approximately £30.4m, driven by upselling of its latest Decision Intelligence software iterations and several major new customer implementations. SaaS revenues increased by around 13%, accelerating from 8% in the previous year, with healthy net revenue retention at 106%. Despite maintaining adjusted EBITDA at approximately £2.4m, cash reserves increased to £20.6m from £17.6m, with no debt, providing resources for continued investment.
Noteworthy is the company's significant improvement in new business acquisition, securing nine new customers versus just three in FY24, with two additional wins post year-end. These new clients span banking, BPO, and healthcare sectors, most of which were already live by year-end.
ActiveOps also continues to demonstrate product innovation with January’s launch of ControliQ Series 4, which integrates AI to automate previously unstructured management activities. The company also released a cloud version of WorkiQ, expanding its delivery options.
Investments in sales capability included six enterprise sales hires and the appointment of Paul Maguire as Group Managing Director, which looks like it’s already paying early dividends given the improved win rate. Management points to an encouraging start to FY26 and a strong implementation pipeline, with ActiveOps appearing well-positioned to capitalise on growing enterprise demand for operational transformation solutions.
FY25 results are out in full in early July when we will report more.
Posted by: Marc Hardwick at 08:54
Tags:
software
operations
trading update
AIM-listed Vianet Group, the hospitality and retail-focused asset management and business intelligence software provider, has released a trading update for FY25 (ended 31st March 2025).
The company delivered a steady performance for the year (revenue was almost flat at £15.3m; FY24: £15.2m), with recurring revenue remaining the cornerstone of its business model (representing 85% of the total). Adjusted EBITA (pre-exceptional and share-based payments) rose 3.5% to £3.59m.
Most impressive was Vianet's balance sheet strengthening, with net debt reduced by c. 73% to under £0.4m (FY24: £1.5m), despite funding increased share buybacks (of £0.44m) and higher dividend payments. Year-end cash reserves climbed to £2.78m (FY24: £1.82m), supported by profit-to-cash conversion of 102.9% of EBITDA.
Vianet’s unattended retail division is successfully pivoting from vending management software towards long-term rental agreements with UK operators. While this strategic transition resulted in a slight 4.8% year-on-year revenue decline, it delivers higher-value, longer-term recurring income. The company secured nearly 100 new long-term contracts, each with a minimum three-year term, strengthening its pipeline in the vending and forecourt sectors.
Meanwhile, its hospitality division has surpassed pre-Covid EBITA levels, maintaining steady installation numbers despite industry headwinds (as we reported at the halfway point in the year – see Vianet revenue up 7% in H1 with return to profitability), with the company reporting that investments in its Beverage Metrics solutions and Power BI reporting capabilities are creating growth opportunities beyond the core Leased & Tenanted pub sector.
Vianet will be publishing its full-year results on 10th June, and we look forward to more detail then.
Posted by: Craig Wentworth at 08:51
Tags:
results
retail
hospitality
Posted by: HotViews Editor at 07:00
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