The engineering software group has targeted annual cost savings of £25mln by 2020 following its merger with French group Schneider.
After two years of talks, the two companies finally agreed a £3bn deal that saw Schneider shareholders end up with a 60% stake in the enlarged company.
In the year to end-March, profits for the combined business on a pro-forma business rose 7% to £163mln allowing for one-off costs, while revenues rose 9% to £705mln.
The original Aveva business increased sales by 15%, while Schneider’s revenues climbed 5.4%.
Craig Hayman, chief executive, predicted a strong year ahead as the pace of robotisation in industry steps up.
"There is an accelerating, secular trend toward the digitalisation of industry and the combined group is uniquely placed to capture this opportunity,“ he said.
Shares soared 14% to 2,874p.