LONDON, April 27 (Reuters) - Industrial software company Aveva said a revenue hit from sanctions on Russia would drop through to its operating profit this year, while wage inflation, increased travel costs and investment in cloud would also take a toll.

As a result, the British company said there would be a slowdown in revenue growth compared to the financial year just ended, narrowing its adjusted operating profit margin before a return to growth the following year.

Shares in the company fell as much as 21% to a four-year low at the open on Wednesday. They were down 12% at 0855 GMT, extending the decline in the last 12 months to 46%.

Commenting on its year to end-March, Aveva said its fourth-quarter revenue grew 18% on a pro-forma organic constant currency basis.

It said it expected an adjusted operating margin of just below 30%, resulting in an outcome in line with market expectations. (Reporting by Paul Sandle; editing by James Davey and Jason Neely)