Aveva eyes return to profit growth due to weak pound

Aveva Group, the engineering software provider, said its full year results will show a return to growth in revenue and profit, helped by currency movements.

The pound has weakened since last June’s EU referendum vote, which has boosted the translation of Aveva’s overseas earnings.

The FTSE 250 company anticipates that the results for the year ended 31 March will be in line with expectations and that cash generation will be ahead of forecasts with about £130m.

Aveva’s full year results will be published on 23 May.