LONDON (Reuters) – British industrial software company AVEVA met market expectations with a 20% rise in full-year adjusted earnings on Wednesday and said it was confident it would meet its medium-term targets.

The company, which reported its first full year since buying Schneider Electrical’s industrial software business, reported adjusted earnings of 184.5 million pounds ($234 million), in line with a forecast of 183 million pounds, on revenue up 12% to 775.2 million pounds.

($1 = 0.7898 pounds)