AVEVA Swings to 1st Half Pretax Profit, Sees Fiscal Year In Line With Views
November 08 2016 - 3:00AM
Dow Jones News
LONDON-- Aveva Group PLC (AVV.LN), a designer of software for
building oil rigs and other industrial purposes swung to an interim
pretax profit after last year incurring costs related to its
aborted combination with French industrial group Schneider Electric
SE (SU.FR), saying it has been resilient in tough conditions.
The company Tuesday reported a pretax profit of 5.5 million
pounds ($6.8 million) for the six months ended September 30,
against a GBP773,000 loss the previous year, on revenue up to
GBP84.3 million from GBP82 million.
Aveva said adjusted pretax profit was broadly flat at GBP9.1
million and raised the interim dividend to 13 pence from 6 pence as
part of decision to re-weight the dividend to the first half.
The full year outlook remains in line with expectations, the
company said.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
(END) Dow Jones Newswires
November 08, 2016 02:45 ET (07:45 GMT)
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