AVEVA, the engineering data and IT systems group, said it has made 'good progress' in the first half, seeing solid revenue growth despite the impact of adverse foreign exchange rate movements.
In its trading update for the six months to September 30th, the company said that, as usual, the financial year is more second half-weighted due to the number of large rental renewals and timing of customer spend.
The Engineering & Design Systems business has performed in line with expectations with Oil and Gas continuing to be the main driver of demand.
Subscribe to 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
Enterprise Solutions has shown further revenue growth in the first half. The company said that its global partnership with Infosys announced during the period will play a "key role in the development of the Enterprise Solutions business".
Meanwhile, Bocad, the European structural steel detailing software business that the company bought in May for £14m, has performed in line with expectations since acquisition.
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
