Aveva unveils rise in annual revenue

Engineering software company Aveva reported a 12 per cent rise in revenue on the back of growth in its Enterprise Solutions and Engineering & Design Systems divisions.

Engineering software company Aveva reported a 12 per cent rise in revenue on the back of growth in its Enterprise Solutions and Engineering & Design Systems divisions.

The group posted revenue of £220.2m for the year to end of March, up from last year's £195.9m.

Profit before tax climbed 10% to £63.6m from £57.7m, while basic earnings per share increased 14% to 66.97p from 58.86p.

"Aveva delivered another excellent year of growth in 2012/13," said Chief Executive Officer, Richard Longdon.

"As a truly international company selling world leading technology into global industries we have been able to benefit from the positive fundamentals in many of our markets."

The Enterprise Solutions division, which provides software and support for ongoing information management, achieved a 31% rise in revenue to £30.7m as it gained on returns on investments.

The Engineering & Design Systems business, which provides software solutions for the design and construction of assets in the Plant, Power and Marine industries, continued to benefit from global growth trends oil, gas and power. Revenues rose 10% to a record £189.5m driven by demand from engineering, procurement and construction customers.

In the year ahead the group expects to see further growth in the oil and gas industry. Aveva also anticipates a return to profit in Latin America as project delays subside and the spending freeze unwinds.

"Against this backdrop we view the outlook for 2013/14 with confidence," Longdon added.

Shares rose 0.13% to 2,327p at 11:30 Thursday.

RD

Recommended

Britain’s ten most-hated shares – w/e 20 May
Stocks and shares

Britain’s ten most-hated shares – w/e 20 May

Rupert Hargreaves looks at Britain's ten-most hated shares, and what short-sellers are looking right now.
23 May 2022
Britain's most-bought shares w/e 20 May
Stocks and shares

Britain's most-bought shares w/e 20 May

A look at Britain's most-bought shares in the week ending 13 May, providing an insight into how investors are thinking and where opportunities may lie…
23 May 2022
Director dealings w/e 20 May: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 20 May: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
23 May 2022
Three high-yielding FTSE 250 dividend stocks I’d invest in right now
Share tips

Three high-yielding FTSE 250 dividend stocks I’d invest in right now

The average FTSE 250 dividend yield is around 2.4%., but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income inve…
23 May 2022

Most Popular

Imperial Brands has an 8.3% yield – but what’s the catch?
Share tips

Imperial Brands has an 8.3% yield – but what’s the catch?

Tobacco company Imperial Brands boasts an impressive dividend yield, and the shares look cheap. But investors should beware, says Rupert Hargreaves. H…
20 May 2022
Barry Norris: we’re already in the 1970s. Here’s how to invest
Investment strategy

Barry Norris: we’re already in the 1970s. Here’s how to invest

Merryn talks to Barry Norris of Argonaut capital about the parallels between now and the 1970s; the transition to “green” energy; and the one sector w…
19 May 2022
Share tips of the week – 20 May
Share tips

Share tips of the week – 20 May

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
20 May 2022