Plus   Neg

AVEVA Records Low Double-digit Revenue Growth On Full Year, Pro Forma Basis

Information technology company AVEVA Group Plc.(AVV.L) said Thursday that the positive performance seen in the first nine months of the year continued in the fourth quarter, and it delivered low double-digit revenue growth on a full year, pro forma IFRS 15 basis, compared to the prior year.

In a trading update for the year ended 31 March 2019, AVEVA said that as in the first nine months, the growth included some benefit from upfront revenue recognition on multiyear rental contracts.

The company said that its full-year operating margins improved, albeit with additional costs being incurred due to the strong sales performance.

According to AVEVA, the integration of the heritage AVEVA and Schneider Electric industrial software business continued to progress well.

As AVEVA starts the new financial year, it expects further progress on delivering medium-term targets, with a focus on transition to rental and subscription licencing.

AVEVA will publish its full-year results on 29 May 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20... NetApp Inc. (NTAP) Wednesday reported a fourth-quarter profit that fell short of Wall Street estimates, as revenues slipped 3 percent. Shares of the company slipped 6% in extended trading session after its first-quarter outlook was also short of current expectations. Sunnyvale, California-based NetApp...
Follow RTT