Engineering data and design IT systems provider Aveva Group is still making steady progress, once again supported by activity in the oil and gas sector. The latest trading update points to good cash generation in Q3. The engineering and design systems division ( the traditional and largest part of the business) experienced “good progress” but as usual performance of the subsectors varied with oil and gas doing best, power “steady” and marine still in the doldrums. With a new product (Everything 3D) poised to deliver revenue from next fiscal year and a recent acquisition (Global Majic) the division has more to build on. There appears to be less headline activity in the enterprise solutions division although there were references to new contracts in today’s update. Overall, Aveva seems to be in a positive position, a situation that has persisted for some time now (see here).
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Steady Aveva
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