Engineering software solutions provider Aveva Group Plc. (AVV.L) announced its preliminary results for the year ended 31 March 2013. Profit for the year attributable to equity holders of the parent grew to 45.51 million pounds from the prior year's 39.97 million pounds, with earnings per share improving to 66.82 pence from 58.73 pence last year.
Profit before tax for the year was 63.6 million pounds, compared to 57.7 million pounds in the prior year.
Adjusted profit before tax grew by 13% to 70.7 million pounds from the previous year's 62.3 million pounds.
Adjusted earnings per share amounted to 74.70 pence, an increase from prior year's 63.66 pence.
Annual revenue rose 12% to 220.2 million pounds from last year's 195.9 million pounds, driven by strong revenue growth and excellent execution in Enterprise Solutions and further expansion in Engineering & Design Systems.
The company noted that its Board recommended final dividend of 19.5 pence , an increase of 15% over the prior year's 17.0 pence. This gives a full year dividend of 24 pence (2012 - 21.0 pence) when combined with the interim dividend of 4.5 pence announced earlier in the year, gives an increase of 14% over last year. Subject to approval at the Annual General Meeting, the final dividend will be paid on 26 July 2013 to shareholders on the register on 21 June 2013.
The company said it expects to see further growth in the Oil & Gas industry in coming years and a solid demand backdrop in Power, underpinned by nuclear new-build in China and India in particular.
The company said the move to profitability within the Enterprise Solutions or ES division is an important milestone and it aims to build on this in 2013/14. The company anticipates a return to growth in Latin America as project delays subside and the spending freeze unwinds.
"China and South East Asia are well positioned to deliver further good growth and we will continue to invest in growing our presence in the world's developing economies. Against this backdrop we view the outlook for 2013/14 with confidence," the company said.
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