Aveva results to be slightly ahead

16th Apr 2010 07:15

Engineering data and IT systems provider Aveva said its full year results will be marginally ahead of market expectations.The company said that the trends outlined in its late January interim management statement have continued, with progress made in the Oil & Gas and Power markets, although the Marine market remains in the doldrums.The company said it receiving high levels of interest from potential customers for AVEVA.NET, its information management platform. "This was a good performance during a challenging year, reflecting the fundamental strengths of our business model and leading market position. We have a robust pipeline of new business but some customers remain cautious on commitment to large capital spend which is expected to continue in the near-term," said Richard Longdon, chief executive of Aveva.