Aveva Group PLC said it made a good start to its current fiscal year with sales up 11% on a constant currency basis in the three months to end June 2021.
All the group's revenue lines grew, said the brief statement from the company, with “subscription growing in line with overall group revenue and perpetual licences increasing significantly”.
Shares in industrial software specialist Aveva have recovered strongly since the shock departure of chief executive Craig Hayman, with the group often tipped as a potential takeover target.
Chairman Philip Aiken has moved to quash the talk and has said there is no intention to change the shareholder structure and that it sees value in being an independent hardware-agnostic software company.
Earlier this month, Aveva revealed it is targeting compound annual revenue growth (CAGR) of around 10% until 2026, with recurring sales accounting for more than four-fifths of the total.