AVEVA starts year on strong footing

9th Jul 2013 07:37

Engineering software solutions provider Aveva said it had seen a good start to the year in both engineering & design systems and enterprise solutions divisions with steady growth in EMEA and Asia Pacific.The Cambridge based group said there are early signs that business activity is starting to pick up in Brazil after the group won offshore and onshore contracts during the first quarter of the financial year.In Engineering & Design Systems, its EPC customers remain highly active in the Oil & Gas market in all geographies, especially in the offshore segment, it explained.Elsewhere, within the Power Market, it continues to invest in positioning AVEVA for future growth in both China and India, particularly with respect to new nuclear infrastructure investment.The group said Enterprise Solutions continues to see good growth and during the first quarter it signed its first AVEVA NET deal in India, with a major Owner Operator in the Power sector."The group continues to invest in increasing its sales resources to meet the demand from faster growing geographies, as well as further developing its technical sales capabilities," it said.Aveva said it continues to be cash generative and has a strong balance sheet. It ended the month of June with over £204m of cash with no debt. Subject to shareholder approval, a final dividend of 19.5p per share will be paid July 26th and a special dividend of 147.0p per share will be paid in August. CJ