Aveva performing 'well' in first half

Engineering and industrial software provider Aveva said on Thursday that it continued to perform "well" in the first half of its financial year.

In an update for the six months to 30 September, the company said it delivered low double-digit revenue growth at constant currency. This included the impact of good sales execution, with a number of contracts being brought forward into the first half and some benefit of upfront revenue recognition on multi-year rental contracts.

The group also said that the integration of the heritage Aveva and Schneider Electric industrial software business is on track, with progress made in putting cost savings initiatives in place, with the financial benefits of this expected to start showing in the second half.

The company will release its first-half results on 20 November.

At 0811 BST, the shares were down 0.7% to 2,504p.