AVEVA Group Sees Trading In Line With Company Views

7th Jul 2010 07:11

LONDON (Dow Jones)--AVEVA Group PLC (AVV.LN), a provider of engineering data and design IT systems, said Wednesday that since its preliminary results announcement on May 26 the group has continued to trade in line with the Board's expectations. MAIN FACTS: -The trends previously highlighted in geographies and end user markets have continued with the Oil and Gas sector remaining generally positive, particularly in Brazil. -The Power sector remains stable whilst new orders in the marine market continue to be affected by the global economic slowdown. -Trading across all geographies has continued in the same pattern with strong performances in Eastern Europe and Brazil countered by trading in North America remaining subdued. -The acquisitions of Logimatic and ADB completed on June 30 and the integration into the existing AVEVA business will be completed over the next six months. -Group has continued to invest in AVEVA NET and the pipeline for AVEVA NET remains strong with the aforementioned acquisitions increasing capability, particularly in the owner operator and Marine PLM markets. -The Group continues to be cash generative and has a strong balance sheet. -Shares closed Tuesday at 1185 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; [email protected] (END) Dow Jones Newswires July 07, 2010 02:11 ET (06:11 GMT)