Aveva H1 revenues up 9% as OSIsoft provides boost

27th Oct 2021 07:13

(Sharecast News) - Software group Aveva on Wednesday said first-half revenue rose 9% on a constant currency basis driven by a strong contribution from the recently acquired OSIsoft business.
The company said the reported rise was before forex translation headwinds due to the relative strength of sterling, adding that the revenue increase resulted in "significant" margin leverage and growth in adjusted earnings before interest and tax.

Maintenance and services revenue increased at a low single digit rate, while subscription and perpetual licence revenue grew at a mid- to high-teens rate, Aveva said in a trading update for the six months to September 30.