CIMdata PLM Industry Summary Online Archive
4 October 2007
Financial News
AVEVA Group plc - Trading Update
Following the completion of its half year to 30 September 2007, AVEVA Group plc, ("AVEVA") announced the following pre-close trading update.
Overall the company's interim results for the six months ending 30 September 2007 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 Asia Pacific region where customers continue to commit high levels of investment to support their continued growth. Much of this demand tends to generate upfront licence fees. Growth across Central Europe has also been very strong. Existing power and plant customers are increasing their current usage of our products and we are winning more clients. US and WEMEA trading has progressed in line with our expectations.
Expanding new and existing technologies remains central to our success and consequently, investment for the period is at a high level. This allows us to strengthen our existing products as well as opening up new opportunities with new products.
The Board expects the strength of trading in the first six months to continue during the second half of the financial year, but given the high level of initial fees generated in the first half, anticipates a relatively even split of profits between the two halves. The Board therefore believes results for the full year will be ahead of our previous expectations.
Richard Longdon, Chief Executive of AVEVA said: 'We continue to maintain excellent momentum across all our markets. We are seeing sustained demand from customers and our innovative technologies put us in a very strong position to benefit 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.
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