Aveva trading in line

9th Jul 2009 08:23

Engineering IT systems provider Aveva said it has traded in line with expectations, reflecting the anticipated levels of demand across its geographies and end user markets. The group said it has started to see the anticipated decline in initial licence sales in the marine sector, although shipyards' existing order books for new vessels have remained relatively solid, supporting recurring revenue from existing licences.The plant business, where the majority of revenues are driven by oil & gas and power projects, has been more stable. Concerns over commodity pricing and availability of funding have eased slightly although some nervousness remains, it said."The Group is well placed to trade through a more difficult economic environment whilst continuing to invest selectively in growth opportunities," said the group.