Aveva sees low double digit revenue growth for first half
Source - SMW
Engineering group Aveva said Thursday it expected low double digit revenue growth in the first half of the year, and touted a second-half performance boost from its tie-up with Schneider Electric.
Growth in the first half was attributed to the impact of good sales execution, with a number of contracts brought forward into the first half, while the benefit of upfront revenue recognition on multiyear rental contracts also bolstered performance, the company said.
The company said its tie-up with Schneider Electric industrial software business was on track, adding that the financial benefits of cost savings were expected to prevail in the second half.
At 8:10am: (LON:AVV) AVEVA Group PLC share price was -10p at 2512p