Aveva reports 'strong cash generation' in Q3

Strong cash generation was recorded in the third quarter of the year for FTSE-250-listed engineering data provider Aveva, according to an interim management statement issued by the group on Monday morning.

Strong cash generation was recorded in the third quarter of the year for FTSE-250-listed engineering data provider Aveva, according to an interim management statement issued by the group on Monday morning.

The group, which didn't quantify its performance with numbers, stated that "good progress" had been seen during the period in the engineering and design systems division, underpinned by continued strength in oil and gas.

In the group's power division, "steady growth" was reported while the marine division remained "depressed".

The group added that Aveva Everything 3D had become commercially available and that the group was seeing "good levels of interest".

Challenges in BrazilDelays in project awards and local resource constraints in Brazil had a negative impact on the group's growth in the Americas, although no significant shift was seen in regional trends.

MF

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