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Aveva holds course

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LogoToday’s trading update from Aveva was fairly similar to its last, with little to get excited about (see here). Performance is in line with expectations for the six months to September 30 2012. The Engineering and Design Systems unit is in line, once again driven by oil and gas. The Enterprise Solutions unit has delivered – unspecified – revenue growth.  The company announced a partnership agreement with Infosys during the period. It also revealed its Everything3D design platform - but it will not start shipping until December so it will be next year before we start to see what difference it makes to the business. Aveva’s performance has either been steady or on a nice upwards path for the last year or so. This update suggests a similar pattern but maybe at a less comforting level given management commenting that H2 tends to be stonger than H1. All will be will revealed come the release of its half year results in November.  


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