Full Year Results 

Aveva emerges anew

Aveva emerges anew

Aveva (AVV) helpfully provided pro-forma comparisons for its March year-end, following its recent tie-up with the software arm of France's Schneider Electric SA. The combined group would have delivered aggregate revenues of £705m, an 8.6 per cent rise year on year, with adjusted operating profits up by a similar margin. Reported returns were held in check by costs associated with the reverse acquisition, but a 1.8 percentage point increase in the adjusted margin points to solid underlying trading. Presumably, unit profitability will receive additional support from the £25m in synergy cost savings targeted by 2020.

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