(RTTNews) - Aveva Group plc (AVV.L) reported Tuesday that its first-half loss before tax was 89.1 million pounds, compared to loss of 80.3 million pounds a year ago. Loss per share was 26.52 pence, compared to loss of 27.07 pence a year ago.
Pro forma adjusted earnings per share were 20.83 pence, compared to 37.38 pence last year.
Loss from operations before tax was 77.6 million pounds from last year's loss of 74.3 million pounds.
Revenue was 551.5 million pounds, an increase of 14.7 percent from last year's 480.9 million pounds.
Pro forma revenue was 553.8 million pounds, up 7.3 percent from 516.1 million pounds a year ago. On an organic constant currency basis, pro forma revenue reduced 2.5 percent.
Annualised Recurring Revenue or ARR increased 11.6 percent to 876.2 million pounds. Pro forma recurring revenue grew 6.9 percent on an organic constant currency basis.
Further, the company announced an interim dividend of 13.0 pence, same as last year, payable on December 9 to shareholders on the register on November 18.
Looking ahead, the Board continues to expect further improvement in AVEVA's ARR growth rate in the second half due to a greater weighting of contract wins and contract renewals.
On a constant currency basis, AVEVA expects to achieve some revenue growth in the second half. Cost increases are expected to be significantly lower in the second half.
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