CIMdata PLM Industry Summary Online Archive
18 January 2008
Financial News
AVEVA Group Interim Management Statement
AVEVA Group plc, announced the following Interim Management Statement, which has been released ahead of schedule.
AVEVA has continued to make excellent progress since 30 September, with a particularly strong end to the third quarter. The major industries in which we operate continue to see high levels of demand. The Board now believes that results for the year ending 31 March 2008 will be significantly ahead of its expectations.
We have seen strong trading across all regions and each of our major markets of Oil and Gas, Marine and Power performed well. The continued growth in these markets, driven by end user demand as well as high energy prices, looks set to remain and provides a strong platform for our continued success.
We have been particularly pleased with our performance in the Asian region where we saw high levels of demand for all of our products. The establishment of the power centre of excellence in China as well as the release of new products has helped us to benefit from the current heightened levels of activity in the region. We have also been pleased with our performance in the Central Eastern and Southern European (CES) region and the establishment of our Russian office last year is now helping us to benefit from numerous Oil and Gas and Power opportunities within this sub-region.
The regions of The Americas and Western EMEA are also seeing some excellent growth due to the expansion of existing customers and new customer wins across all our main markets.
This strong trading has further strengthened our financial position and has allowed us to continue to invest in expanding our software offering, in addition to developing our sales and infrastructure to support the company's future growth.
Richard Longdon, Chief Executive of AVEVA commented: "AVEVA has continued to provide first class products and services to many of the industries' major providers of large capital projects. With demand for these large capital projects both increasing in number and complexity, we believe that AVEVA is ideally positioned to capitalise on the growth both in existing and new market opportunities."
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