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Summary
- UK tech industry grew at an exponential rate from 2010 to 2020, according to an industry data.
- The number of unicorns in the nation also grew by tenfold during the period.
- Software giant Aveva proposed a final dividend at 23.5 pence per share, which was slightly higher than FY 2020.
The UK technology sector has been one of the few industries to have witnessed staggering growth since the onset of the pandemic. According to recently released data from the government’s Digital Economy Council and global data platform Dealroom.co, the UK’s tech industry grew from £1.2 billion in 2010 to £11.3 billion in 2020.
Moreover, most of the above growth was generated from 2015 where the industry investment stood at £4.1 billion. The sector also saw a 10-fold growth in the number of unicorns in the country. Of the total, 32 unicorns belonged to the fintech sector, while 14 were focused on enterprise software and 13 in the healthcare technology sector.
In this article, let us put our lens through 2 FTSE listed technology stocks:
- AVEVA GROUP PLC (LON: AVV)
UK-based software major Aveva Group is an FTSE 100 constituent. It announced its FY 2020 final year results recently, reporting its FY2021 revenue of £820 million, lower by 1.6 per cent from £833.8 million in FY 2020, though meeting the company’s expectations. It also reported that its adjusted earnings rose by 4.4 per cent to £226.4 million for the fiscal.
Profit from operations was down from £95.0 million in FY 2020 to £36.6 million this year. The company proposed a final dividend at 23.5 pence per share, which was slightly higher than FY 2020 after adjusting for the rights issue bonus factor.
(Image Source: EODHD/Others)
AVV’s shares jumped by 2.64 per cent to GBX 3,416.00, while the FTSE 100 index, which it is a part of, closed at 7,026.93, down by 0.04 per cent on 26 May.
AVV’s market cap was at £10.02 billion, its five year average dividend yield was at 1.4 per cent, and its net asset value per share (excluding intangibles) stood at 81.23 pence.
Also Read: 5 Technology Stocks Under Focus: IQE, KNOS, GAW, AVV, OCDO
- Just Eat Takeaway.com NV (LON: JET)
FTSE 100 listed online food delivery giant Just Eat Takeaway is a Netherlands domiciled company. The food technology company launched a marketing campaign for the UEFA Euro 2020 Tournament, which got postponed last year, including Manchester.
JET had also announced on 12 May that it plans to launch a supermarket delivery service in Germany and is also considering a similar service in other geographies.
(Image Source: EODHD/Others)
JET’s shares managed a modestly positive close at GBX 6,473.00 on 26 May at 11:34 HRS GMT+1. JET’s market cap was at £9.63 billion.
Also Read: Pandemic Impact: Orders for Deliveroo And Just Eat Takeaway Surge Exponentially
