AVEVA shares down on Coronavirus impact

FTSE 100 IT services firm AVEVA (LON:AVV) saw its share price drop by 3.78% to 5,090p (as of 15:05 GMT) after it warned that the coronavirus was having an impact on current trading in China, which accounts for around 5% of the group’s sales.  Management said that constant currency organic sales growth for the 10 months to 31st January was in the high single digits.

The shift towards software as a service has also continued which has had a positive impact on revenue mix and long-term operating margins.