Deep-water drilling drives growth at AVEVA

The engineering software company, AVEVA, has reported record profits for the 12 months ended March 21st as the firm capitalised on growing demand from deep-water oil and gas exploration.

The engineering software company, AVEVA, has reported record profits for the 12 months ended March 21st as the firm capitalised on growing demand from deep-water oil and gas exploration.

AVEVA delivered revenue during the year of £195.9m, this was better than the consensus expectation of £192.04m and represented an increase of 13% against the prior year.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.