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AVEVA expects financial benefits of Schneider Electric merger to show in second half

AVEVA said the integration of Schneider Electric is on track with the progress made in putting cost savings initiatives in place
AVEVA
Shares rose 1.5% in morning trading

British engineering software firm AVEVA Group PLC (LON:AVV) expects the financial benefits of its merger with French rival Schneider Electric to begin to show in the second half.

In a first half trading statement on Thursday, AVEVA said the integration of Schneider Electric is on track with the progress made in putting cost savings initiatives in place.

READ: Aveva shares soar as it confirms merger with Schneider Electric’s software arm

It also said it delivered “low double-digit” revenue growth in the six months to September 30, supported by a number of contracts that were brought forward into the period and upfront revenue recognition on multiyear rental contracts.

Shares rose 1.5% to 2,560p in morning trading. 



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