Period end trading update

Date : 04/16/2012 @ 2:00AM
Source : UK Regulatory (RNS & others)
Stock : Aveva Group (AVV)
Quote : 1935.0  -15.0 (-0.77%) @ 12:35PM
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Period end trading update

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RNS Number : 3498B


16 April 2012

16 April 2012

AVEVA Group plc

Period end trading update

AVEVA Group plc ("AVEVA" or the "Group"; stock code : AVV), one of the world's leading providers of engineering data and design IT systems, today announces a trading update following the end of the financial year to 31 March 2012.

The Group performed well in the second half of the year and as a result we anticipate reporting full year results in line with the Board's expectations. In particular we saw momentum continue to build in the final quarter resulting in a strong finish to the year.

We have seen continuing demand for our Engineering and Design Systems covering both renewals and new customer wins. This demand has mostly been driven by Oil & Gas.

Geographically, EMEA continued to perform strongly, Americas was once again bolstered by an excellent performance in Latin America and Asia Pacific recovered well in the second half following the restructuring in China in the first half.

In the second half, we won a number of new Enterprise Solutions customers and achieved further expansion within existing accounts. A number of substantial and complex wins have not been recognised in the year, which has meant that the revenue backlog has grown substantially compared to last year putting us in a good position as we enter FY13. With the momentum in the business and growing opportunity pipeline, we are positive about the prospects for Enterprise Solutions in FY13.

Richard Longdon, Chief Executive, said: "We are pleased with the outcome for the year with a strong performance in the second half. Our business in China has recovered and is now gaining real momentum and Enterprise Solutions continues to make good progress".

The Group will be announcing its preliminary results for the year ended 31 March 2012 on 28 May 2012.

For further information, please consult the AVEVA website:


 AVEVA Group plc                             Tel: 01223 556 611 
 Richard Longdon, Chief Executive 
 James Kidd, Chief Financial Officer 
 Hudson Sandler                              Tel: 020 7796 4133 
 Andrew Hayes / Wendy Baker / Alex Brennan 

This information is provided by RNS

The company news service from the London Stock Exchange



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