AVEVA hits new records in revenue, profit, cash growth
AVEVA Group plc (AVV.L), the Cambridge-headquartered global leader in the provision of engineering data and design IT systems, continued its stelar run of recent times by releasing another set of record results for the year ended 31 March.
Strong growth in all its major territories saw revenues grew by 44% to £94.9m. Profit before tax increased to £28.1m from £13.8m in 2006, delivering an increase in adjusted earnings per share of 96% to 31.71p.
Chairman Nick Prest (pictured) said: “The marine, oil and gas and power markets in which we operate look set to remain strong, with demand in some areas driving order books to an all time high. With such momentum in the Company and the markets which we serve the Board believes that the outlook remains very positive."
The continued strength of trading has seen AVEVA’s net cash increase to £41.3m from £23.5m.
Mr Prest said the group had positioned itself at the forefront of technological innovation through the continued development of its product range.
“This, combined with the close relationships we enjoy with our ever expanding customer base, has meant that the Group has benefited strongly from the surge in end user markets. It is now one of the very few technology companies whose efforts are dedicated to serving the marine, oil and gas and power markets,” he said.
The markets in which it operates look set to remain strong, with demand in some areas driving order books to an all time high.
The Groups’ strong share price performance through the year has propelled it into the FTSE 250.
The company said it would simlify its branding. With an increasing number of products and the greatly increased awareness of the AVEVA brand globally, it said it was taking this opportunity to simplify branding as it broadens the use of AVEVA core technology. All products will be marketed under the AVEVA Plant and AVEVA Marine brands. Its new product branding and slightly changed corporate branding have been rolled out during April 2007, along with a completely redesigned and more accessible website.
The AVEVA product range is sold to owners, operators and engineering contractors associated with complex process plant and marine assets.
24th May 2007
