AVEVA Group PLC Trading Update (4821W)
18 Abril 2019 - 1:00AM
UK Regulatory
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RNS Number : 4821W
AVEVA Group PLC
18 April 2019
AVEVA GROUP PLC
Trading Update
AVEVA Group plc ('AVEVA' or 'the Group'), a global leader in
engineering and industrial software, provides a trading update for
the year ended 31 March 2019.
The positive performance seen in the first nine months of the
year continued in the fourth quarter and AVEVA delivered low
double-digit revenue growth on a full year, pro forma IFRS 15
basis, compared to the prior year. As in the first 9 months, this
growth included some benefit from upfront revenue recognition on
multiyear rental contracts.
Full year operating margins improved, albeit with additional
costs being incurred due to the strong sales performance, together
with investment to ensure that AVEVA is optimally positioned to
capture future growth opportunities.
The integration of the heritage AVEVA and Schneider Electric
industrial software business has continued to progress well. As
AVEVA starts the new financial year, further progress is expected
on delivering medium-term targets, with a focus on transition to
rental and subscription licencing.
AVEVA will announce its results for the year ended 31 March 2019
on 29 May 2019.
Enquiries:
AVEVA Group plc
Matt Springett, Head of Investor Relations
Tel: 01223 556 676
FTI Consulting LLP
Edward Bridges / Dwight Burden
Tel: 020 3727 1000
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END
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