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Aveva swings to loss in H1 as revenue falls 15%; maintains dividend
StockMarketWire.com
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Software group Aveva maintained its interim dividend despite swinging to a first-half loss as revenue fell on delays in closing new business.
For the half year ended 30 September, the company reported a loss of £23.2 million compared with a profit of £25.5 million year-on-year as revenue fell 15.1% to £332.6 million.
First half results were broadly in-line with the group's plan for the shape of the year, save for an increased FX translation headwind and two medium-sized subscription deals slipping from Q2 into Q3, the company said.
The interim dividend was maintained at 15.5 pence per share, reflecting confidence in AVEVA's resilience
'The strong second half order pipeline underpins the Board's confidence in its outlook for the full year,' the company said.
Story provided by StockMarketWire.com
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