AVEVA Group plc (LON:AVV), a global leader in engineering and industrial software, announced the following trading update for the period from 1 April 2018 to date.
The Group has made a solid start to the financial year and integration remains on track, with a number of key milestones being successfully hit that will support future growth. These include integration of the Executive Leadership, Finance, Sales, Marketing and Global R&D teams, and transfer of HR processes from Transitional Service Agreements to AVEVA in key markets, such as the United States.
The Group maintains a strong balance sheet and saw good cash generation in the first quarter, resulting in net cash of £117 million at 30 June 2018, up from £96m at 31 March 2018.
The full year outlook remains in line with the Board’s expectations.
