Aveva, the Cambridge based engineering technology company, has released a bullish management statement, putting to rest any qualms that it might be suffering similar problems in China to its rival, Invensys.
The problem Invensys had were delays to Chinese nuclear projects, where Aveva itself has interests. Aveva assured that the group is performing in line with the board's expectations, and remains confident the full year results will come in ahead of the previous year.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Geographically, Europe, Middle East, Latin America and Africa are doing well.
Crucially, the firm says "following the restructuring in China we are seeing increased momentum confirming our positive view about our prospects in this market."
Over the past year Aveva has gained 0.8%, Invensys has dropped 39%.
BS
-
5 alternatives to Reeves’ inheritance tax raid on rural Britain as families face ‘splitting up or selling’ farmsInheritance tax limits are now so low they attack small working family farms rather than just going after tax loopholes, one Cotswolds farmer has said
-
High earners at risk of £65k retirement shockHigh earners could face some of the biggest pension shortfalls when they retire, as the cost of maintaining an expensive lifestyle could erode their retirement savings
