Aveva share price in focus as company posts FY results

on May 19, 2015
Updated: Oct 21, 2019

Aveva (LON:AVV) has this morning released its results for the year ending March 31, 2015. The results come in the wake of a report in The Sunday Times that the company might be an acquisition target for a slew of US and European suitors, with the news sending Aveva’s share price soaring in London trading yesterday. The shares closed 8.99 percent higher at 2,000p.

**Highlights from Aveva’s statement:**
Total revenue for the year was £208.7 million which was down 12% compared to 2013/14 (2014 – £237.3 million). Included in the results is £1.1 million from 8over8 Limited, the business we acquired in January 2015. Our organic revenue on a constant currency basis was £220.4 million, which was down 7% compared to 2013/14.
Following H1 revenue of £92.3 million (2014 – £108.5 million) on an organic, constant currency basis, the second half of the year delivered organic, constant currency revenue of £128.1 million. This was broadly flat compared to 2013/14 (2014 – £128.8 million) and was a good, resilient performance considering the market conditions we faced, particularly in Oil & Gas.
Adjusted profit before tax was £62.1 million (2014 – £78.3 million) and on a reported basis, profit before tax was £54.9 million (2014 – £69.0 million). Within this, the acquired 8over8 business contributed a loss of £0.6m in the short period since the acquisition on 5 January 2015.
The Board is declaring a final dividend of 25.0 pence per share (2014 – 22 pence per share), an increase of 14%. The dividend will be payable on 3 August 2015, to shareholders on the register on 3 July 2015.
Commenting, Chief Executive Richard Longdon said:
“Overall I am very pleased with the strategic and operational progress we have made during the period. Despite the difficult trading environment, we have demonstrated our ability to capitalise on our strengths: a broad international reach and strong competitive positioning in all of our markets.”
As of 07:19 BST, Tuesday, 19 May, AVEVA Group plc share price is 2,000.00p.

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