25th Oct 2018 09:06
LONDON (Alliance News) - Aveva Group PLC said Thursday it has continued to perform well during the first half.
In the six months ended September, the FTSE 250-listed the engineering and industrial software provider delivered "low" double digit revenue growth on a constant currency basis.
Aveva said this growth can be attributed to the impact of "good sales execution", with a number of contracts being brought forward into the first half and the company benefiting from upfront revenue recognition on multiyear rental contracts.
The company said the integration of heritage Aveva and Schneider Electric industrial software is on track, with progress being made in putting cost saving initiatives in place. The benefits are expected to start showing in the second half.
Aveva is expected to announce its first half results on November 20.
Shares in Aveva were up 1.4% Thursday at 2,556.00 pence each.
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