Aveva revenue rises 9% in H1 as OSIsoft acquisition boosts performance

Wed, 27th Oct 2021

Technology consulting group Aveva reported that revenue grew 9% in the first half of its fiscal year, driven by 'strong' contribution from the recently acquired OSIsoft business. For the period from 1 April 2021 to 30 September 2021, revenue grew by approximately 9% on a pro forma organic constant currency basis, before FX translation headwinds arising due to the relative strength of sterling. 'This increase drove significant margin leverage and growth in adjusted EBIT,' the company said. All of the group's fee types grew, with a strong contribution from the recently acquired OSIsoft business. Maintenance and services revenue increased at a low single digit rate, while subscription and perpetual licence revenue grew at a mid- to high-teens rate. Aveva will report its results for the six months ended 30 September 2021 on 10 November 2021. Story provided by StockMarketWire.com

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