North East technology firm Vianet Group plc has named a new CEO alongside steady annual results.
Vianet, based in Stockton-on-Tees, provides data analytics to vending machine companies and pubs, using its technology to link machinery to the internet and to track data and customer spending patterns. Its products include software used by pubs and bars to track information about sales and stock levels.
The firm was founded in 1995 and has been AIM-listed since 2006. It connects 40,000 retail machines and 10,000 hospitality venues – across 300+ customers, with a strong presence in the United States – with technology and insights.
For the financial year ended 31st March 2026, turnover was £15.5 million (FY25: £15.3m), with recurring revenue contributing 88% of this (£13.6m).
Adjusted EBITA (pre-exceptional and share-based payments) was £3.61m (FY25: £3.59m), while the firm reported net cash of £440,000 at year end (FY25: net debt of £380,000).
It said this was ahead of expectations and reflected strong cash generation and balance sheet improvement.
James Dickson will step down as CEO and return to his role as chairman of the board. Craig Brocklehurst (pictured), who in 2019 was promoted from commercial operations director to head up the company’s smart zones division – which focuses on its pub work – will become CEO on 31st May 2026.
Vianet said Brocklehurst has been at the heart of several of its most significant milestones, including the expansion of its recurring revenue base, the development of the hospitality and unattended retail platforms, and the cultivation of key long-term customer relationships.
“This has been a year of genuine progress for Vianet. Our recurring revenue model has once again demonstrated its strength – converting reliably into cash, enabling us to move from a net debt position to a healthy net cash balance, and giving us the financial firepower to both invest in growth and increase returns to shareholders,” said Dickson.
“While some customers understandably took longer than anticipated to finalise deployment decisions, the underlying demand for what we do is real, growing, and not going away. Our pipeline gives us every reason to be optimistic.
“I am also immensely proud to be announcing Craig Brocklehurst as our incoming chief executive officer. Craig has been instrumental in building the Vianet of today – from the growth of our recurring revenue base to the development of our smart zones and smart machines platforms.
“He steps into this role with the trust of the board, a deep understanding of our customers and markets, and a clear vision for where we go next.”
Vianet’s share price is down 12% in the year-to-date and down 4% in the last year.