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Aveva annual revenue flat as growth in H2 offset by pandemic hit in H1; CEO to depart
StockMarketWire.com
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Engineering and industrial software company Aveva said full-year revenue was flat as double digit revenue growth during the second half of the year first-half weakness owing to the pandemic impact.
The company also said chief executive Craig Hayman has decided to return to the USA for personal reasons and would leave the group after the AGM in July.
Peter Herweck would be seconded from Schneider Electric on request of the board to the role of CEO starting 1 May 2021.
OSIsoft, which was acquired on 19 March, grew revenue by a mid to high single digit percentage rate in the year ended 31 March 2021, the company said.
Combined pro forma revenue for the enlarged group grew by a low single digit percentage on an organic constant currency basis, while achieving 'strong growth in Subscription revenue and increasing operating margins,' it added.
Story provided by StockMarketWire.com
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