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AVEVA H1 Revenue Up 9% On Pro Forma Organic Constant Currency Basis

AVEVA Group plc (AVV.L), on Wednesday, issued trading update for the period from 1 April 2021 to 30 September 2021.

The company's revenue grew by about 9% in the first half of the financial year on a pro forma organic constant currency basis, before FX translation headwinds arising due to the relative strength of Sterling. This increase drove significant margin leverage and growth in adjusted EBIT.

All of the Group's fee types grew, largely reflecting a strong contribution from the recently acquired OSIsoft business. Maintenance and Services revenue rose at a low single digit rate, while Subscription and Perpetual licence revenue increased at a mid- to high-teens rate.

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