LONDON (dpa-AFX) - Information technology company AVEVA Group Plc.(AVV.L) Thursday, in its trading update for the 10 months ended 31 Jan. 2020, said it achieved high single-digit organic constant currency revenue growth, supported by strong orders in Rental & Subscription, for both on premise and Cloud solutions.
The group noted that its strong orders in Rental & Subscription were partly offset by significantly lower Initial & Perpetual licences and Services.
Regionwise, the Group achieved growth across all of its reporting segments, with good growth in Asia Pacific. However, the Group expects some impact on its sales in China, owing to the ongoing disruption caused by the Coronavirus, due to travel restrictions and office closures. China contributed about 5 percent of AVEVA's overall Group revenue.
At Group level, AVEVA witnessed good start to the fourth quarter and said its order pipeline for the remaining weeks of the financial year is solid.
Copyright RTT News/dpa-AFX