Contract Renewal with Admiral Taverns
Vianet Group plc has secured a five-year contract renewal with Admiral Taverns, extending their partnership to cover nearly 1,100 sites and continuing the provision of Smart Zones Beverage Metrics for draught beer monitoring and data analytics. This renewal significantly strengthens Vianet's recurring revenue model, which already accounts for approximately 88% of Group revenues, and enhances the Board's confidence in the company's medium-term growth prospects. The agreement underscores Vianet's established position within the UK hospitality sector and its ability to deliver ongoing value through technology and data insights.
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Vianet Group plc (AIM: VNET), the international provider of actionable data, business insights and payment solutions, is pleased to announce the renewal of its contract with Admiral Taverns for a further five-year term.
The renewed agreement covers almost 1,100 sites across the Admiral Taverns estate and will see Vianet continue to provide its Smart Zones Beverage Metrics draught beer monitoring and data analytics solutions.
The contract renewal reinforces Vianet's position as a trusted technology partner within the UK hospitality sector and provides enhanced long-term visibility of recurring revenues. The agreement further strengthens the Group's highly recurring revenue model, with recurring revenues representing approximately 88% of Group revenues.
The renewal further underpins the Board's confidence in the Group's recurring revenue profile and medium-term growth prospects.
Craig Brocklehurst, Chief Executive Officer of Vianet Group plc, commented:
"We are delighted to extend our relationship with Admiral Taverns, which spans almost two decades, through this new five-year agreement.
This renewal reflects the value our solutions continue to deliver across the Admiral Taverns estate and demonstrates the confidence that Admiral Taverns places in our technology, data insights and customer support teams.
Long-term partnerships such as this are central to our strategy. They provide strong visibility of future recurring revenues while enabling us to continue investing in innovation, advanced data analytics and AI-driven insights that help customers improve operational performance and profitability."
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