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AVEVA revenue up 9% in H1 2012

AVEVA today announced results for the six months ended September 30 that were both true to the the upbeat tone of last month’s interim statement’s and cautiously optimistic about the future. The results mirror what we’ve come to expect in the engineering software world: slow, steady, reliable growth from the design products and less predictable but faster-when-it-happens growth from enterprise solutions. The trick for AVEVA will be to manage the growth while not taking its eyes off the design tools that generate the bulk of today’s revenue and profits.

Even though results came very close to meeting City analysts’ expectations, the share price was down about 4% on the London Stock Exchange.

The details:

The company also said that it continues to explore further acquisitions.

CEO Richard Longdon said in a press release, “The fundamental growth drivers across our vertical markets remain strong, particularly in the emerging markets, and we are well positioned to continue to exploit those opportunities. We are pleased with our progress in the first half, especially the development of the Enterprise Solutions business and the continued growth in Latin America and Russia. In addition, we have reorganised the business in China and are now better placed to exploit the opportunities that market presents. We have also seen a strong performance in EMEA in the first half. As we enter the second half, we are well positioned to deliver the Board’s expectations for the full year.”

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