AVEVA Group plc : Preliminary Results

AVEVA Group plc, one of the world's leading providers of engineering data and design IT systems, yesterday announced its preliminary results for the year ended 31 March 2013.
Operational highlights
• Constant currency organic revenue growth of 12%
• Enterprise Solutions revenue +31%, with the division moving into profitability for the first time
• Good growth from Engineering & Design Systems, revenue +10% to record £189.5 million
• Successful launch of AVEVA Everything3D?, initial customer response highly encouraging
• Significant growth in EMEA (+15%) and Asia Pacific (+14%)
• Recurring revenue steady at 70% reflecting strong rental renewals
• Commitment to capital discipline, with intention to repay £100 million via a special dividend Commenting on the outlook, Chief Executive Richard Longdon said:
"AVEVA delivered another excellent year of growth in 2012/13. As a truly international company selling world leading technology into global industries we have been able to benefit from the positive fundamentals in many of our markets. Our goal is to deliver sustainable, strong, long-term earnings growth. Our global platform and technology leadership have been key to delivering this expansion, even during a period of severe economic uncertainty. We expect to see further growth in the Oil & Gas industry in coming years and a solid demand backdrop in Power, underpinned by nuclear new-build in China and India in particular. Against this backdrop we view the outlook for 2013/14 with confidence."
Source: AVEVA Group plc