Engineering data and design IT systems provider Aveva gathered momentum in the second half of FY12 (to end March) and finished the year with a strong Q4. Given that management had previously warned that revenue would be weighted towards the back end of the year, the full year performance is set to be in line with expectations. Aveva reports continuing demand for its Engineering and Design Systems, notably from the Oil and Gas sector, with EMEA and Latin America still performing strongly. Meanwhile, the problem Chinese operation has been restructured and is now ‘gaining real momentum’ and things are looking up for the smaller Enterprise Solutions business, which enters FY13 with a larger revenue backlog than last year and growing opportunity pipeline. We’ll be looking at the detail when the full results are announced at the end of May.
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Momentum gathers at Aveva
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