Strong start for Aveva

ENGINEERING software group Aveva yesterday said it had enjoyed a good start to the financial year, with steady growth in both Europe and Asia.

Aveva said there were also signs of momentum in Brazil, where it won a string of contracts at the start of the year.

The group said it aims to sell more of its software in India and China, particularly in the new nuclear industry.

Analysts at Panmure Gordon described the update as “bullet-proof”, with a reassuring response to its short-term concerns about sales growth rates.

The firm’s FTSE 250-listed shares rocketed 13.7 per cent to £25.78 yesterday.