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Aveva Group full-year profit rises 11 pct

Reuters - UK Focus

May 27 (Reuters) - British Software developer Aveva Group (Other OTC: AVEVF - news) , said its full-year profit rose 11 percent due to a strong organic growth at its Engineering and Design Systems unit and improved margins.

The Cambridge-based company said adjusted pretax profit rose to 78.3 million pounds. Revenue rose 8 percent to 237.3 million pounds.

The company, whose software is used to design power plants, shipping and oil and gas facilities, said its Engineering and Design Systems unit saw a 14 percent organic growth on constant currency basis after it increased its product offerings.

Adjusted profit margin rose to 33.0 percent from 32.1 percent a year earlier. (Reporting by Tasim Zahid in Bangalore; Editing by Gopakumar Warrier)