Park Logisitics - Creating Supply Chain Solutions

Park Logistics - Creating supply Chain Solutions

Creating Supply Chain Solutions
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Sales rise at Ceva

Ceva pushed sales up two per cent to 1.7bn euros in the first quarter, but tough market conditions meant that EBITDA slipped back seven per cent to 66m euros.

CEO John Pattullo said: “Even in these more difficult markets, Ceva continues to make progress. Our ocean business performed well and we continued to make solid gains in contract logistics driven by excellent performance from the automotive and industrial sectors. The airfreight market continues to be challenging, with Ceva’s performance mirroring that of many of our competitors.”

Contract Logistics revenues increased three per cent driven by a strong performance from the automotive sector, particularly in Asia and North America, as well as strong year-on-year growth in the industrial sector.

Freight management revenues were flat overall, but ocean freight performed well following significant management focus in 2011.

In February Ceva completed a programme of refinancing eliminating some 500m euros of debt and 350m euros of securities in parent group Ceva Investments Ltd.


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