AVEVA makes 'strong' start to financial year
Engineering data and design IT system supplier AVEVA Group described a “solid start” to the financial year on Friday, as investors gathered for the company’s annual general meeting.
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The FTSE 250 company said there had not been any “noticeable change” in the trends reported in its full-year results on 23 May, and it expected the phasing of revenue in FY 2018 to be “broadly similar” to the prior year.
It said it was maintaining a “strong” balance sheet, and saw good cash generation in the first quarter, resulting in net cash of £152m at 30 June.
“Subject to approval by shareholders at the AGM today, the final dividend of 27p per share will be payable on 4 August, to shareholders on the register on 7 July,” the board said in its statement.
“The full year outlook remains in line with the board's expectations.”