StockMarketWire.com - Aveva swung to a profit in the first half on improved margins and revenue amid strong sales execution and early contract renewals.

For the six months ended 30 September 2019, the company reported pre-tax profit of £24m compared with a loss of £5.5m on-year, and revenue increased 16.5% to £391.9m.

Gross margin rose 400 basis points to 46.4%, underpinned by operational leverage and underlying cost savings, the company said.

The interim dividend was raised by 10.7% to 15.5p a share.

'Looking ahead, we see strong demand for digitalisation and industrial software within the industries we serve and remain confident in the outlook,' Aveva said.

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