Interim Results
02/12/2025 07:00
RNS Number : 7748J
Vianet Group PLC
02 December 2025
02 December 2025
Vianet Group plc
("Vianet", the "Company" or the "Group")
Interim Results for the Six Months Ended 30 September 2025
Vianet Group plc (AIM: VNET), an international provider of actionable data, business insights, and payment solutions through an integrated ecosystem of connected hardware devices, software platforms and smart insights portals, announces its unaudited results for the six months ended 30 September 2025 ("H1 2026"). The Company is pleased to announce that it is on track to deliver continued sustained growth, with confidence demonstrated by the interim dividend increase of 33%.
Financial Highlights
· Revenue resilience: £7.67m (H1 2025: £7.69m)
· High recurring revenue: £6.44m, representing 84% of total revenue, maintained from last year
· Gross margin improved: 68% (H1 2025: 67%), reflecting ongoing operational efficiency
· Adjusted EBITDA: £1.86m, up 20.6% (H1 2025: £1.55m)
· Adjusted operating profit: up 10.4% to £1.58m (H1 2025: £1.43m), before exceptional items and share-based payments, reinforcing robust underlying performance.
· PBT: £0.392m (H1 2025: £0.018m)
· Strong operational cash generation: £1.70m post working capital
· Net debt reduced: £0.5m (H1 2025: £1.0m) with cash increased to £2.60m (H1 2025: £2.25m) after £0.25m of share buybacks and an increased dividend payment of £0.29m (H1 2025: £0.22m)
· Refinanced HSBC facilities secured until April 2028 offer improved terms and support further investment
· Interim dividend increased: Up 33% to 0.4p per share (H1 2025: 0.3p)
James Dickson, Chairman & CEO, commented:
"I am pleased with the strong progress that we have made in the first half of FY26. This comes despite a challenging UK and global macro backdrop and more cautious investment behaviour ahead of the UK budget. Our growing pipeline, resilient recurring revenues and robust cash generation continue to demonstrate the effectiveness of our model.
Both divisions have delivered solid year-on-year progress, and the business has remained focused on disciplined execution while managing the operational friction created by the 2G transition and elongated customer planning cycles. These factors have not altered the underlying business momentum, and our outlook remains positive and unchanged.
With our strategic investments in AI, analytics, energy-efficiency solutions and expansion in the USA and forecourts now translating into clear commercial momentum, the Group is increasingly well positioned for sustained long-term growth."
Sarah Bentham, CFO, commented:
"We have delivered a solid first-half performance supported by disciplined cost control and an improving margin profile while continuing to invest in our technology roadmap. The 1% improvement in gross margin and stronger cash generation reflect the financial benefits of our business model and the operational efficiencies implemented over the past year.
The early transition away from 2G has introduced some short-term operational friction; however, it has not altered the Group's financial trajectory, and our balance sheet remains strong. With increasing visibility from long-term, recurring, subscription revenues and a healthy pipeline supporting second-half activity, we remain confident in the financial outlook for H2 and beyond."
Chairman & CEO's Review
The Group has delivered a strong H1 performance with increased adjusted profit, improved cash generation, and continued strengthening of our underlying recurring revenue base. There have been headwinds created by a challenging macroeconomic backdrop and cautious investment behaviour ahead of the UK Autumn Budget; however, we are increasingly confident that the business is well positioned to benefit from here.
Recurring revenues accounted for 84% of turnover, highlighting the predictable and resilient nature of our long-term subscription model. Operational efficiencies delivered a 1% improvement in gross margin, while adjusted operating profit increased 10.4% year-on-year.
Across both divisions, customer engagement remains strong, and the volume and quality of commercial opportunities continue to improve. The Group is trading in line with Board expectations and has a robust pipeline which is expected to underpin further progress into H2.
Operational Review
Smart Machines (Unattended Retail)
The division delivered a resilient performance in the first half, despite temporary timing impacts from customer estate rationalisation and planning for national connectivity transitions.
H1 performance:
· Turnover: £2.97m down £0.27m reflecting lost revenue from the strategic withdrawal from the ERP provision to prioritise our device footprint extension to drive future recurring income
· Operating Profit: Adjusted operating profit was down £0.07m to £0.91m (H1 2025: £0.98m), as a direct result of our withdrawal from ERP provision.
· Customer Activity: 52 new contracts and five renewals were signed on three to five-year agreements, including new LRS clients such as Bannatyne, and Goals, adding to our healthy pipeline
· Devices Footprint: total deployed devices increased by c1,000 to 36,957, with higher recurring value cashless devices now standing at over 26,000, accounting for 71% of our device footprint (H1 2025: 67%)
· Cashless Expansion: 2,700 new cashless devices were deployed, of which 125 replaced existing 3G units. The net addition of 2,575 new devices will benefit H2 recurring revenue and operating profit
· Telemetry Optimisation: The telemetry only estate dropped by 960 to 10,863 devices as large free vend coffee operations were rationalised
Impact of 2G Network Restrictions
In recent months following on from the closure of 3G networks, the UK's phased withdrawal of 2G services-beginning with O2 restricting inbound roaming SIM access from October 2025-continues to affect operators running legacy IoT estates. Many unattended retail estates still contain ageing 2G-dependent devices, creating a clear operational and commercial risk for operators as network retirement progresses.
Whilst this has contributed to short-term delays and estate optimisation decisions during H1 this structural move from 2G/3G to 4G LTE represents a significant growth catalyst for Vianet, supported by:
· A proven and scalable 4G LTE upgrade pathway, already deployed at pace
· SmartVend device management platform, critical during technology transitions
· Strategic partnerships with Scobie Macintosh and Attenda
· Strong competitive wins, including conversion of competitor estates driven by commercial pilots delivering +18% revenue uplift and 15% lower transaction fees
· CPI's market exit, creating further market share gain opportunity
The Board expects network migration to remain a structural growth driver for the division through to 2027.
Smart Zones (Hospitality)
The Hospitality division delivered growth in revenue, operating profit and site installations, supported by renewed momentum across both the leased & tenanted and managed pub segments.
In Hospitality, the transition from 2G to 4G requires engineer visits across a significant number of pubs to upgrade devices. While this increased workload may impact the timing of some customer activity, the migration will materially improve estate reliability and connectivity resilience and is expected to support future growth through long-term contract extensions.
H1 highlights:
· Turnover: up 5.6% to £4.7m, reflecting strong activity across the estate
· Operating Profit: Adjusted UK operating profit rose 4% year on year to £2.29m
· Contract Activity: 6 new long-term contracts and 3 major renewals, including Star Pubs & Bars and Greene King
· New installations: up 58% YoY to 229 supported by the rollout of the new Beverage Metrics platform across Inglenook, Marstons, Red Oak, and Trust Inns, more than offsetting 210 pub disposals, taking UK estate up to 9,522 sites, with a further 40 sites for BBG
· Enersave: now installed in over 40 sites across three companies, with growing interest as operators continue to manage sustained energy cost pressures
· USA: momentum building, with losses reduced to £0.14m (H1 2025: £0.25m) as our new Beverage Metrics platform and recently signed partnership with Fintech accelerates commercial engagement
The BMI acquisition continues to materially strengthen Vianet's end-to-end beverage technology and management capability, creating significant opportunities with national hospitality chains in both the UK and the United States.
Dividend
Reflecting confidence in the Group's strong cash generation and continued earnings visibility, the Board announces an interim dividend of 0.4p, a 33% increase on the prior year.
Outlook
The Group entered the second half of FY 2026 with a strengthened financial position, robust recurring revenue base, and good commercial momentum. The Company is trading in line with achieving full-year expectations, despite cautious customer investment behaviour.
The Board is confident in delivering year-on-year growth and maintaining long-term strategic momentum, anticipating further progress in H2 supported by contract delivery, new installations, and strengthened liquidity providing the flexibility to invest in growth priorities. In particular:
· Sustained Demand: The retirement of UK 2G and 3G networks is expected to drive demand for upgrades and new multi-year contracts in unattended retail, payments, and remote asset management, leveraging Vianet's market-leading 4G LTE product suite
· Operational Growth: Expectations include continued H2 pipeline growth and conversion, positive progression of UK/USA hospitality opportunities, and further expansion of our telemetry and payment solutions in new verticals
· Financial Confidence: Improved banking facilities support future investment, underpinning the Board's confidence in long-term momentum
Investor Presentation
James Dickson, Chairman & CEO, and Sarah Bentham, CFO, will present the interim results via the Investor Meet Company platform today at 10:30am GMT.
Investors can register at: https://www.investormeetcompany.com/vianet-group-plc/register-investor
Enquiries
Vianet Group plc
James Dickson, Chairman & CEO
Sarah Bentham, CFO
Tel: +44 (0) 1642 358 800
www.vianetplc.com
Cavendish Capital Markets Limited
Stephen Keys / Isaac Hooper
Tel: +44 (0) 20 7220 0500
Investor enquiries:
Dale Bellis
Tel: +44 (0) 20 7397 1928
www.cavendish.com
About Vianet
Vianet is a leading provider of actionable management information and business insight derived from connected IoT devices, cloud-based software platforms, and advanced data analytics. With over 250,000 connected devices transmitting data daily, the Group delivers mission-critical insight to customers across hospitality, unattended retail, vending, coffee and fuel forecourts.
Vianet's end-to-end solutions include telemetry, connectivity, contactless payment solutions, inventory management, energy-saving services, and advanced business intelligence platforms, enabling customers to optimise profitability, improve operational efficiency and enhance cashflow performance.
For further information, please visit www.vianetplc.com
Consolidated Statement of Comprehensive Income
For the six months ended 30 September 2025
| Before Exceptional 6 months | Total Unaudited 6 months | Before Exceptional 6 months | Total Unaudited 6 months | Audited Year | ||
| Ended | Ended | Ended | Ended | Ended | ||
| 30 Sept | 30 Sept | 30 Sept | 30 Sept | 31 March | ||
| 2025 | 2025 | 2024 | 2024 | 2025 | ||
| Note | £'000 | £'000 | £'000 | £'000 | £'000 | |
| Continuing operations | ||||||
| Gross Revenue | 3 | 7,665 | 7,665 | 7,687 | 7,687 | 15,266 |
| Rebates | (158) | (158) | (175) | (175) | (242) | |
| Net Revenue | 7,507 | 7,507 | 7,512 | 7,512 | 15,024 | |
| Cost of sales | (2,296) | (2,296) | (2,393) | (2,393) | (4,603) | |
| Gross profit | 5,211 | 5,211 | 5,119 | 5,119 | 10,421 | |
| Administration and other operating expenses | 4 | (3,635) | (3,741) | (3,691) | (3,804) | (7,019) |
| Operating profit pre amortisation and share based payments | 3 | 1,576 | 1,470 | 1,428 | 1,315 | 3,402 |
| Intangible asset amortisation | (1,081) | (1,081) | (1,107) | (1,107) | (2,292) | |
| Share based payments | (40) | (40) | (40) | (40) | (79) | |
| Operating profit post amortisation and share based payments | 455 | 349 | 281 | 168 | 1,031 | |
| Net finance costs | (93) | (93) | (150) | (150) | (349) | |
| Other Income | 136 | 136 | - | - | 247 | |
| Profit from continuing operations before tax | 498 | 392 | 131 | 18 | 929 | |
| Income tax | 5 | (163) | (163) | - | - | (72) |
| Profit and other comprehensive income for the year | 3 | 335 | 229 | 131 | 18 | 857 |
| Earnings per share | ||||||
| Continuing Operations | ||||||
| - Basic | 6 | 0.79p | 0.06p | 2.92p | ||
| - Diluted | 6 | 0.79p | 0.06p | 2.86p | ||
| Unaudited As at 30 Sept 2025 | As Restated Unaudited As at 30 Sept 2024 | Audited As at 31 March 2025 | ||
| £'000 | £'000 | £'000 | ||
| Assets | ||||
| Non-current assets | ||||
| Intangible assets | 22,826 | 23,358 | 23,109 | |
| Property, plant and equipment | 3,400 | 3,308 | 3,379 | |
| Total non-current assets | 26,226 | 26,666 | 26,488 | |
| Current assets | ||||
| Inventories | 1,327 | 1,886 | 1,503 | |
| Trade and other receivables | 3,610 | 3,409 | 3,242 | |
| Cash and cash equivalents | 2,569 | 2,248 | 2,777 | |
| 7,506 | 7,543 | 7,522 | ||
| Total assets | 33,732 | 34,209 | 34,010 | |
| Equity and liabilities | ||||
| Liabilities | ||||
| Current liabilities | ||||
| Trade and other payables | 2,595 | 2,644 | 2,329 | |
| Borrowings | 192 | 179 | 185 | |
| Leases | 93 | 125 | 110 | |
| 2,880 | 2,948 | 2,624 | ||
| Non-current liabilities | ||||
| Deferred tax liability | 928 | 1,076 | 901 | |
| Borrowings | 2,870 | 3,072 | 2,974 | |
| Leases | - | 94 | 47 | |
| Contingent Consideration | 191 | 230 | 322 | |
| 3,989 | 4,472 | 4,244 | ||
| Equity attributable to owners of the parent | ||||
| Share capital | 2,872 | 2,943 | 2,900 | |
| Share premium account | 11,770 | 11,770 | 11,770 | |
| Capital redemption | 98 | 32 | 75 | |
| Share based payment reserve | 695 | 623 | 655 | |
| Merger reserve | 818 | 818 | 818 | |
| Retained profit | 10,610 | 10,603 | 10,924 | |
| Total equity | 26,863 | 26,789 | 27,142 | |
| Total equity and liabilities | 33,732 | 34,209 | 34,010 | |
| Unaudited 6 months | Unaudited 6 months | Audited Year | ||
| Ended | Ended | Ended | ||
| 30 Sept | 30 Sept | 31 March | ||
| 2025 | 2024 | 2025 | ||
| £'000 | £'000 | £'000 | ||
| Cash flows from operating activities | ||||
| Profit for the period | 229 | 18 | 857 | |
| Adjustments for | ||||
| Net Interest payable | 93 | 150 | 349 | |
| R&D tax credit | (136) | - | (247) | |
| Income tax charge | 163 | - | 72 | |
| Amortisation of intangible assets | 1,081 | 1,107 | 2,292 | |
| Depreciation | 297 | 270 | 541 | |
| Disposal of property, plant and equipment | 14 | 23 | 32 | |
| Share-based payments expense | 40 | 40 | 79 | |
| Operating profit before changes in working capital and provisions | 1,781 | 1,608 | 3,975 | |
| Change in inventories | 176 | 299 | 683 | |
| Change in receivables | (368) | 464 | 631 | |
| Change in payables | 135 | (455) | (678) | |
| (57) | 308 | 636 | ||
| Net cash from operating activities | 1,724 | 1,916 | 4,611 | |
| Income tax refund | - | - | - | |
| Net cash from operating activities | 1,724 | 1,916 | 4,611 | |
| Purchases of property, plant and equipment | (332) | (274) | (625) | |
| Purchase of intangible assets | (798) | (724) | (1,657) | |
| Purchases of other intangible assets | - | - | (4) | |
| Net cash used in investing activities | (1,130) | (998) | (2,286) | |
| Cash flows used in financing activities | ||||
| Net Interest payable | (93) | (150) | (349) | |
| Issue of share capital | - | 25 | 25 | |
| Repayment of leases | (64) | (62) | (123) | |
| Repayments of borrowings | (97) | (85) | (178) | |
| Dividends paid | (290) | (220) | (309) | |
| Shares repurchased and cancelled | (258) | - | (436) | |
| Net cash used in financing activities | (802) | (492) | (1,370) | |
| Net (decrease)/increase in cash and cash equivalents | (208) | 426 | 955 | |
| Cash and cash equivalents at beginning of period | 2,777 | 1,822 | 1,822 | |
| Cash and cash equivalents at end of period | 2,569 | 2,248 | 2,777 | |
| Reconciliation to the cash balance in the Consolidated Balance Sheet | ||||
| Cash balance as per consolidated balance sheet | 2,569 | 2,248 | 2,777 | |
| Bank overdrafts | - | - | - | |
| Balance per statement of cash flows | 2,569 | 2,248 | 2,777 | |
| Share capital | Share premium account | Share based payment reserve | Merger reserve | Capital Redemption | Retained profit | Total | |
| £000 | £000 | £000 | £000 | £000 | £000 | £000 | |
| At 1 April 2025 | 2,900 | 11,770 | 655 | 818 | 75 | 10,924 | 27,142 |
| Share based payments | - | - | 40 | - | - | - | 40 |
| Dividends paid | - | - | - | - | - | (290) | (290) |
| Share options purchased | - | - | - | - | (5) | - | (5) |
| Issue of share capital | - | - | - | - | - | - | - |
| Shares cancelled | (28) | - | - | - | 28 | (253) | (253) |
| Transactions with owners | (28) | - | 40 | - | 23 | (542) | (507) |
| Profit and total comprehensive income for the period | - | - | - | - | - | 229 | 229 |
| Total comprehensive income less owners transactions | (28) | - | 40 | - | 23 | (313) | (278) |
| At 30 September 2025 | 2,872 | 11,770 | 695 | 818 | 98 | 10,610 | 26,863 |
| Share capital | Share premium account | Share based payment reserve | Merger reserve | Capital Redemption | Retained profit | Total | |
| £000 | £000 | £000 | £000 | £000 | £000 | £000 | |
| At 1 April 2024 (as previously stated) | 2,940 | 11,748 | 583 | 818 | 32 | 11,071 | 27,192 |
| Prior year adjustment | - | - | - | - | - | (266) | (266) |
| At 1 April 2024 (as restated) | 2,940 | 11,748 | 583 | 818 | 32 | 10,805 | 26,926 |
| Share based payments | - | - | 40 | - | - | - | 40 |
| Dividends paid | - | - | - | - | - | (220) | (220) |
| Issue of share capital | 3 | 22 | - | - | - | - | 25 |
| Transactions with owners | 3 | 22 | 40 | - | - | (220) | (155) |
| Profit and total comprehensive income for the period | - | - | - | - | - | 18 | 18 |
| Total comprehensive income less owners transactions | 3 | 22 | 40 | - | - | (202) | (137) |
| At 30 September 2024 | 2,943 | 11,770 | 623 | 818 | 32 | 10,603 | 26,789 |
| Share capital | Share premium account | Share based payment reserve | Merger reserve | Capital Redemption | Retained profit | Total | |
| £000 | £000 | £000 | £000 | £000 | £000 | £000 | |
| At 1 April 2024 (as restated) | 2,940 | 11,748 | 583 | 818 | 32 | 10,850 | 26,926 |
| Dividends paid | - | - | - | - | - | (309) | (309) |
| Issue of share capital | 3 | 22 | - | - | - | - | 25 |
| Cancellation of shares | (43) | - | - | 43 | (436) | (436) | |
| Share option forfeitures | - | - | (7) | - | - | 7 | - |
| Share based payments | - | - | 79 | - | - | - | 79 |
| Transactions with owners | (40) | 22 | 72 | - | 43 | (738) | (641) |
| Profit and total comprehensive income for the year | - | - | - | - | - | 857 | 857 |
| Total comprehensive income less owners transactions | (40) | 22 | 72 | - | 43 | 119 | 216 |
| At 31 March 2025 | 2,900 | 11,770 | 655 | 818 | 75 | 10,924 | 27,142 |
| Continuing Operations | Smart Zones | Smart Machines | Corporate/Technology | Total | ||
| £'000 | £'000 | £'000 | £'000 | |||
| Total revenue | 4,698 | 2,967 | - | 7,665 | ||
| Profit/(loss) before amortisation, share based payments and exceptional costs | 2,147 | 910 | (1,481) | 1,576 | ||
| Pre-exceptional segment result | 1,753 | 678 | (1,976) | 455 | ||
| Exceptional costs | (1) | (1) | (104) | (106) | ||
| Post exceptional segment result | 1,752 | 677 | (2,080) | 349 | ||
| Finance costs | (93) | - | - | (93) | ||
| Other income | - | - | 136 | 136 | ||
| Profit/(loss) before taxation | 1,659 | 677 | (1,944) | 392 | ||
| Taxation | (163) | |||||
| Profit for the year from continuing operations | 229 | |||||
| Smart Zones | Smart Machines | Corporate/Technology | Total | |||
| £'000 | £'000 | £'000 | £'000 | |||
| Segment assets | 29,245 | 4,083 | 404 | 33,732 | ||
| Unallocated assets | - | - | - | - | ||
| Total assets | 29,245 | 4,083 | 404 | 33,732 | ||
| Segment liabilities | 5,846 | - | 95 | 5,941 | ||
| Unallocated assets | - | - | 928 | 928 | ||
| Total liabilities | 5,846 | - | 1,023 | 6,869 | ||
| Continuing Operations | Smart Zones | Smart Machines | Corporate/Technology | Total | ||
| £'000 | £'000 | £'000 | £'000 | |||
| Total revenue | 4,447 | 3,240 | - | 7,687 | ||
| Profit/(loss) before amortisation, share based payments and exceptional costs | 1,949 | 976 | (1,497) | 1,428 | ||
| Pre-exceptional segment result | 1,538 | 764 | (2,021) | 281 | ||
| Exceptional costs | (5) | (7) | (101) | (113) | ||
| Post exceptional segment result | 1,533 | 757 | (2,122) | 168 | ||
| Finance costs | (150) | - | - | (150) | ||
| Profit/(loss) before taxation | 1,383 | 757 | (2,122) | 18 | ||
| Taxation | - | |||||
| Profit for the year from continuing operations | 18 | |||||
| Smart Zones | Smart Machines | Corporate/Technology | Total | |||
| £'000 | £'000 | £'000 | £'000 | |||
| Segment assets | 29,366 | 4,083 | 760 | 34,209 | ||
| Unallocated assets | - | - | - | - | ||
| Total assets | 29,366 | 4,083 | 760 | 34,209 | ||
| Segment liabilities | 6,219 | - | 125 | 6,344 | ||
| Unallocated assets | - | - | 1,076 | 1,076 | ||
| Total liabilities | 6,219 | - | 1,201 | 7,420 | ||
| Continuing Operations | Smart Zones | Smart Machines | Corporate/ Technology | Total | ||
| £'000 | £'000 | £'000 | £'000 | |||
| Total revenue | 9,020 | 6,246 | - | 15,266 | ||
| Profit/(loss) before amortisation, share based payments and exceptional costs | 3,767 | 2,134 | (2,307) | 3,594 | ||
| Pre-exceptional segment result | 3,342 | 1,677 | (3,796) | 1,223 | ||
| Exceptional costs | (7) | (8) | (177) | (192) | ||
| Post exceptional segment result | 3,335 | 1,669 | (3,973) | 1,031 | ||
| Finance costs | (349) | - | - | (349) | ||
| Other income | - | - | 247 | 247 | ||
| Profit/(loss) before taxation | 2,986 | 1,669 | (3,726) | 929 | ||
| Taxation | (72) | |||||
| Profit for the year from continuing operations | 857 | |||||
| Smart Zones | Smart Machines | Corporate/ Technology | Total | |||
| £'000 | £'000 | £'000 | £'000 | |||
| Segment assets | 28,519 | 4,083 | 1,408 | 34,010 | ||
| Unallocated assets | - | - | - | - | ||
| Total assets | 28,519 | 4,083 | 1,408 | 34,010 | ||
| Segment liabilities | 5,746 | - | 221 | 5,967 | ||
| Unallocated assets | - | - | 901 | 901 | ||
| Total liabilities | 5,746 | - | 1,122 | 6,868 | ||
| 6 months | 6 months | Year | ||
| Ended | Ended | Ended | ||
| 30 Sept | 30 Sept | 31 March | ||
| 2025 | 2024 | 2025 | ||
| £'000 | £'000 | £'000 | ||
| Corporate activity and Acquisition costs | 81 | 59 | 118 | |
| Corporate restructuring and transitional costs | 24 | 49 | 64 | |
| Bank facility restructure | - | - | - | |
| 3G Project | 1 | 11 | 15 | |
| Recovered Corporate costs | - | (6) | (5) | |
| 106 | 113 | 192 |
| 6 months | 6 months | Year | ||
| Ended | Ended | Ended | ||
| 30 Sept | 30 Sept | 31 March | ||
| 2024 | 2024 | 2025 | ||
| £'000 | £'000 | £'000 | ||
| United Kingdom corporation tax | 163 | - | 72 |
| 30 September 2025 | 30 September 2024 | |||||
| Profit £000 | Basic profit per share | Diluted profit per share | Profit £000 | Basic profit per share | Diluted (loss) per share | |
| Post-tax profit attributable to equity shareholders | 229 | 0.79p | 0.79p | 18 | 0.06p | 0.06p |
| Operating profit | 1,576 | - | - | 1,428 | - | - |
| 30 Sept 2025 Number | 30 Sept 2024 Number | |
| Weighted average number of ordinary shares | 28,808,071 | 29,437,290 |
| Dilutive effect of share options | 167,800 | 659,636 |
| Diluted weighted average number of ordinary shares | 28,975,871 | 30,096,926 |