Aveva sees 'low double digit' revenue growthin first 9 months

14th Feb 2019 07:19

(Sharecast News) - Industrial software group AVEVA said trends seen in the first half continued into the third quarter as it delivered low double-digit revenue growth in the first nine months of the financial year.Growth included the impact of strong sales execution, with some benefit of upfront revenue recognition on multiyear rental contracts, Aveva said."As planned, the revenue mix has been positive. Software sales grew at a faster rate compared to services resulting in a modest improvement in gross margin," the company said in a trading update.Operating margin also improved, although with some additional costs being incurred due to a better than expected sales performance, together with investment, it added.The company said the integration of the heritage AVEVA and Schneider Electric industrial software business has progressed well."Notwithstanding the tougher comparative period in Q4, the outlook for full year remains positive," the company said.