23rd Jan 2009 07:00
23 January 2009
AVEVA Group plc
Interim Management Statement
AVEVA Group plc ('AVEVA'; stock code: AVV), one of the world's leading providers of engineering data and design IT systems, today announces the following Interim Management Statement.
The Group has continued to make good progress across its vertical markets. Both Central Eastern and Southern Europe and Asia Pacific have continued to perform strongly since the Group announced its interim results on 11 November 2008, with the Americas and Western Europe delivering solid performances. The mix of revenues between initial licence fees and recurring revenues is expected to be similar to those in previous periods and the Group's balance sheet remains strong with net cash of over £100 million. We are also making good progress in the "early stage" PLM market, where growing market acceptance in both new build and brown field projects has driven both new sales and a growing pipeline of opportunities.
As a result of this trading performance, the Board anticipates that results for the year ending 31 March 2009 will be in line with management expectations.
Richard Longdon, Chief Executive, said: "We are pleased with our performance in the current financial year, at the same time we continue to monitor our markets closely to ensure our operations are properly aligned to any developments. Overall, with market leading products supporting early stage concept and design through to operation and maintenance, the Group is well positioned to continue its strategic development."
The Group will be announcing the preliminary results for the year ending 31 March 2009 at the end of May 2009.
For further information, please consult the AVEVA website: www.aveva.com
Enquiries:
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AVEVA Group plc |
Tel: 01223 556 611 |
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Richard Longdon, Chief Executive |
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Paul Taylor, Finance Director |
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Hudson Sandler |
Tel: 020 7796 4133 |
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Andrew Hayes / Wendy Baker / James White |
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