VTL charts aggressive growth plan

The programme, called VendSmart, will allow independent operators to enter the vending business with a modest financial investment.

VTL says after a period of training the operators will place and service smart vending machines into hospitals, recreation centres, universities, offices, workplaces and other locations where consumers want a choice of hot and cold vended food and drink products.

The programme is first being launched in New Zealand and Australia but the company expects to enter the US market next financial year.

Chairman, Richard Janes, says VendSmart will bring about structural changes to VTL's business which are expected to materially affect the quality of earnings.

"On that basis we have revised our forecast for the 12 months ending 31 March 2002. We now expect to report a surplus of $4.9 million after tax, up 20% on the $4.09 million surplus after tax previously forecast."

"We believe that it's a world first in vended distribution that will transform the rate at which VTL can grow."

The company has also released an upgraded version of the software used in the vending machines that allows licensees to download sales information and order stock via the internet using their own PC.

VTL says according to industry research the US market for food and drink vending sales was worth US$35 billion in 1999.

General manager, Rob Seymour, says the company believes the new programme has global application.

"It will create new jobs in a fast growing sector, will win export orders for the company and drive VTL's international operations by stimulating further growth of this rapidly changing market."

Mr Seymour says VTL is well advanced in its discussion with international companies with a view to licensing VendSmart into other territories.

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