Advertisement

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.

Advertisement - Article continues below

"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

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
Share tips of the week
Share tips

Share tips of the week

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
10 Jul 2020