May 29, 2019 / 6:17 AM / 6 months ago

UK software group AVEVA confident after 20% rise in profit

LONDON, May 29 (Reuters) - British industrial software company AVEVA met market expectations with a 20% rise in full-year adjusted earnings on Wednesday and said it was confident it would meet its medium-term targets.

The company, which reported its first full year since buying Schneider Electrical’s industrial software business, reported adjusted earnings of 184.5 million pounds ($234 million), in line with a forecast of 183 million pounds, on revenue up 12% to 775.2 million pounds. ($1 = 0.7898 pounds) (Reporting by Paul Sandle; editing by Kate Holton)

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