Aveva rises on investor relief

SHARES in Aveva rose by almost five per cent yesterday as the software company reassured investors by saying it had seen strong demand for its products.

The company – whose software is used to design oil and gas facilities, power stations and ships – did not reveal figures for the last few months of trading but said that it had seen “continuing good demand” for its design software and that its IT management software, Enterprise Solutions, was profitable for the first time.

Shares in the FTSE 250 group went up 4.65 per cent yesterday, as the company relieved investors wary of a slowdown in trading.