9 Jul 2015 10:50
09 July 2015
The following amendment has been made to the 'Trading update' announcement released on 09 July 2015 at 07:00 under RNS No. 5555S.
One change has been made to the final paragraph; in regards to the final dividend to be paid on 3 August 2015.
All other details remain unchanged.
AVEVA Group plc
Trading update
AVEVA Group plc ('AVEVA'; stock code: AVV), one of the world's leading providers of engineering data and design IT systems, today announces the following trading update ahead of today's AGM for the period from 1 April 2015 to date ("the period").
Since the announcement of the FY15 results on 19 May 2015, we have not seen any noticeable change in the trends reported at that time in our end markets or geographies. Despite the challenging market environment, AVEVA remains a resilient business.
Revenue and profit in Q1 have continued to be negatively impacted by currency translation due to a further strengthening of sterling.
As indicated at the time of the full year results, we expect profit to be more second half weighted as we will not realise the full benefit of recent cost efficiency measures until the second half. The integration of the recently acquired businesses - 8over8 and FabTrol - is progressing well and we are excited by the new market opportunities that these new product areas offer.
The Group maintains a strong balance sheet and continued to see solid cash generation in the first quarter, resulting in net cash of £119 million at 30 June 2015.
Subject to approval by shareholders at the AGM today, the final dividend of 25 pence per share will be paid on 3 August 2015.
Enquiries:
AVEVA Group plc
Richard Longdon, Chief Executive
James Kidd, Chief Financial Officer
Derek Brown, Head of Investor Relations Tel: 01223 556655
Hudson SandlerAndrew Hayes / Wendy Baker /Alex Brennan Tel: 020 7796 4133