AVEVA share price up as margins improve

Engineering and industrial software specialist AVEVA (LON:AVV) announced that it delivered low-single digit revenue growth for the nine months to 31st December. The conditions seen in the first six months continued into the latter three, with the growth being driven by strong sales execution and the partial upfront recognition of multi-year contracts.

Software sales grew at a faster rate than services, which has led to an improvement in margins despite additional costs related to the better than anticipated sales performance.

The price of shares in AVEVA was up by 3.13% to 3,030p (as of 13:50 GMT).