4th Oct 2007 07:01
AVEVA Group PLC04 October 2007 4 October 2007 AVEVA Group plc Trading update Following the completion of its half year to 30 September 2007, AVEVA Group plc,("AVEVA"), one of the world's leading providers of engineering data and designIT systems, is pleased to announce the following pre-close trading update. Overall the company's interim results for the six months ending 30 September2007 are expected once again to show strong growth. AVEVA's principal markets of oil and gas, power and marine remain buoyant.Geographically we have seen a particularly strong performance from the AsiaPacific region where customers continue to commit high levels of investment tosupport their continued growth. Much of this demand tends to generate upfrontlicence fees. Growth across Central Europe has also been very strong. Existingpower and plant customers are increasing their current usage of our products andwe are winning more clients. US and WEMEA trading has progressed in line withour expectations. Expanding new and existing technologies remains central to our success andconsequently, investment for the period is at a high level. This allows us tostrengthen our existing products as well as opening up new opportunities withnew products. The Board expects the strength of trading in the first six months to continueduring the second half of the financial year, but given the high level ofinitial fees generated in the first half, anticipates a relatively even split ofprofits between the two halves. The Board therefore believes results for thefull year will be ahead of our previous expectations. Richard Longdon, Chief Executive of AVEVA said: 'We continue to maintainexcellent momentum across all our markets. We are seeing sustained demand fromcustomers and our innovative technologies put us in a very strong position tobenefit from continuing buoyant markets." The Company will be announcing its interim results for the 6 months ended 30 September 2007 on Monday 12 November 2007. For further information, please consult the AVEVA website: www.aveva.com AVEVA Group plc Tel: 01223 556 611Richard LongdonPaul Taylor Hudson Sandler Tel: 020 7796 4133Andrew HayesSandrine GallienJames White About AVEVA Group plc AVEVA Group plc is one of the world's foremost and fastest-growing lifecycleengineering IT solutions and services providers to the oil and gas, paper andpulp, power, chemical, pharmaceutical and shipbuilding industries. Listed on theLondon Stock Exchange (LSE:AVV), the Group reported pre-tax profits for the yearended March 2007 of GBP 24.7 million on revenues of GBP 94.9 million. The Grouphas grown consistently since 1967 on the strength of pioneering engineeringtechnology that protects the information assets of its customers from thevolatile nature of the IT industry. The Group's history of innovation spans five decades and has produced most oftoday's major engineering IT technologies. Serving over 1600 clients, AVEVA hasa dominant position in many market sectors both on and offshore. In May 2004,the Group acquired Tribon Solutions AB, the market-leading shipbuilding solutioncompany and now serves 85% of the world's top 20 shipbuilders. The Group's clients include leading plant owner operators, shipbuilders andengineering contractors such as Aibel, Aker Kvaerner, ALSTOM Power, Andritz,Areva NP, BAE Systems, BASF, BP, CB&I, Chevron, China National Nuclear, CNOOCOffshore Oil Engineering, Daewoo Shipbuilding & Marine Engineering, ExxonMobil,Hyundai Heavy Industries, Jacobs, Mitsubishi Heavy Industries, Petrofac, ProductServices Network (PSN), SBM, Shell, Sinopec Engineering SNC Lavelin, TKMS - Thyssen Krupp Marine System, Uhde, VT Shipbuilding, WoodGroup (Alliance & Mustang) and Worley Parsons . Headquartered in Cambridge, England, AVEVA Group plc and its operatingsubsidiaries currently employ more than 700 staff worldwide with offices inEngland, Australia, Canada, China, France, Germany, Hong Kong, India, Italy,Japan, Malaysia, Mexico, Norway, Russia, Saudi Arabia, Singapore, Sweden, SouthKorea and the USA. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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