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Aveva Group sales still rising at 10% plus

Integration of Schneider Electric’s industrial software business is on track

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Complex engineering design is Aveva's speciality

AVEVA Group PLC (LON:AVV) sales continued their improvement into the final quarter of the year.

The engineering design group saw revenues rise by a low double-digit number, the pattern of the previous nine months and the first half when turnover rose by 10.9%.

READ: AVEVA lifted as it reiterates “positive” full-year outlook

There was some upfront revenue recognition on multi-year rental contracts, while margins were also better despite increased costs to support the higher sales.

Integration of Schneider Electric’s industrial software business is on track with the strategy to switch to rental and subscription licensing in the medium-term.

Shares rose 1% to 3,278p.

Quick facts: Aveva Group

Price: 4088 GBX

LSE:AVV
Market: LSE
Market Cap: £6.6 billion
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