15th Sep 2006 07:00
AVEVA Group PLC15 September 2006 15 September 2006 AVEVA Group plc Trading Update Prior to entering its closed period, AVEVA Group plc ("AVEVA" or "the Company";stock code: AVV), one of the world's leading providers of engineering data anddesign IT systems, is pleased to announce the following trading update. At the time of its AGM on the 14th July the Company said that trading had beenstrong and that good volumes of new contracts were being secured. The Companyhas continued to perform strongly and the Board now expects the results for thefull year to be materially ahead of its previous expectations, but with lessweighting towards the second half. AVEVA is currently experiencing unprecedented demand for its products andservices. This demand is across all regions with exceptional performance in theAsia Pacific market. This success has been driven by our leadership position inthe high growth marine, oil and gas and power sectors, where we have long-termpartnerships with blue chip customers. Having won a number of strategiccontracts in the period, AVEVA continues to further strengthen its marketposition. The impact of a number of key contracts involving initial upfront fees ratherthan rental revenues has also significantly accelerated performance in the firsthalf. Richard Longdon, Chief Executive of AVEVA commented: "The very strongperformance in the first half reflects our strength in buoyant high growthmarkets and a number of anticipated contract wins impacting earlier thanexpected, thereby delivering a substantial increase in profits early in theyear. We continue to invest in all aspects of our businesses to meet demand andfuture opportunities in all of our major markets and geographies." The Company will be announcing its interim results for the 6 months ending 30thSeptember 2006 on Tuesday 14th November 2006. Enquiries: AVEVA Group plc Tel: 01223 556 611 Richard LongdonPaul Taylor Hudson Sandler Tel: 020 7796 4133Andrew HayesSandrine Gallien This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVV.L