May 26, 2009 / 6:36 AM / 11 years ago

Aveva sales and pretax up

LONDON (Reuters) - Engineering software group Aveva (AVV.L) posted slightly better than expected full-year revenue and pretax profit, reflecting growth in the marine, oil and gas and power markets, but said trading was becoming more difficult.

Aveva, whose three-dimensional software is used to design ships, oil rigs, nuclear power stations and chemical plants, reported on Tuesday a 29 percent rise in revenue to 164.0 million pounds, and a 31 percent rise in adjusted pretax profit to 62.6 million pounds.

Analysts expected revenue of 159.5 million pounds, adjusted pretax profit of 61.9 million pounds for the year to end-March, according to a company-supplied consensus of 17 analysts.

Aveva said the economic slowdown and the lower oil price and shipping rates were causing some projects to be postponed and cancelled, but its restructuring programme would help it trade through the difficult environment.

The group, which had 126.2 million pounds of net cash at year-end, said it would pay a final dividend of 6.5 pence, 30 percent higher than the pay-out a year ago.

Reporting by Paul Sandle; Editing by Victoria Bryan

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