LONDON (dpa-AFX) - Information technology company AVEVA Group Plc.(AVV.L) reported that its statutory profit before tax for the year ended 31 March 2019 rose to 46.7 million pounds from 34.5 million pounds last year. The increase in revenue did not materially drop through to profit due to the full year amortisation charge for intangibles together with the acquisition and integration costs related to the Combination.
Profit attributable to equity holders of the parent for the year decreased to 33.8 million pounds from 40.5 million pounds in the prior year.
Earnings per share was 20.90 pence down from 39.72 pence in the previous year. The reduction was due to a greater number of shares being in issue on average as a result of the Combination. On a pro forma adjusted basis earnings per share grew 27.0% to 90.90 pence from 71.59 pence in the prior year.
On a pro forma basis, revenue grew 11.9% to 775.2 million pounds from 692.5 million pounds last year. On a constant currency basis, revenue increased 12.4%.
On a statutory basis, revenue rose 57.6% to 766.6 million pounds from the prior year's 486.3 million pounds, due to the organic growth of the Group in the year together with the fact that the comparative period only included one month of the heritage AVEVA business.
AVEVA said it is on-track to meet its medium-term targets of delivering revenue growth at least in line with the industrial software market, increasing recurring revenue as a percentage of overall revenue to 60% and improving Adjusted EBIT margin to 30%.
The Board proposed a final dividend of 29.0 pence per share. The final dividend will be payable on 2 August 2019 to shareholders on the register on 5 July 2019.
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