Interim Results for the six months ended 30 September 2012

12 November 2012

Financial highlights

	2012	2011	% Change
Revenue	£97.6m	£85.2m	15%
Adjusted profit before tax	£28.7m	£26.1m	10%
Profit before tax	£25.8m	£23.8m	8%
Adjusted profit before tax margin	29.4%	30.6%
Basic earnings per share	27.03p	24.26p	11%
Adjusted basic earnings per share	30.19p	26.98p	12%
Net cash	£166.4m	£157.5m	6%
Interim dividend per share	4.5p	4.0p	13%

Operational highlights

Global growth platform

Revenue growth across all regions; Asia Pacific +21%, EMEA +13%, Americas +6%
Investment in Indian business, new office in Mumbai, expansion in Hyderabad
New China business making good progress

Technology leadership and investment reinforced with successful launch of new product AVEVA Everything3D (E3D)

Growth opportunity with leading-edge technology
Enables “Lean” working practices in plant project execution
Very positive initial customer interest and feedback

Long-term customer partnerships

Recurring revenue up 14%, representing 69% of total revenue
Engineering & Design Systems growth from extending footprint within the engineering contractors
Enterprise Solutions continuing to make progress with Owner Operators

Commenting on the outlook, Chief Executive Richard Longdon said: 'As AVEVA celebrates its 45th anniversary, these results highlight the breadth, quality and scale of our global business today, with multiple growth drivers across geographies and industries. The recent launch of our new, leading-edge product, AVEVA Everything3D, highlights our ability to maintain technology leadership through continuous innovation, which in turn drives growth and strengthens our customer relationships.'

Ends