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CEVA registers continued growth

By: Kristie Thong, Global
Published: Aug 13, 2010

CEVA        LOGISTICS

Global - CEVA Logistics continued to see revenue increases for its second quarter financial results.

"Second quarter results were impacted by FM margin compression and one-time contract logistics start up costs," says John Pattullo, CEO of CEVA.

In Q2, revenue grew year-on-year by 30%. It was driven by strong freight volumes in the US and Asia Pacific. In Contract Logistics, year-on-year growth was achieved from elevated volumes in the automotive, consumer and technology sectors.

New business wins generated €451 million of additional revenue from growth in the consumer and energy sectors and an improvement in the automotive market.

Moving forward, CEVA is proceeding cautiously but expects encouraging results in key strategic areas. The company believes they are in good position for the second half of 2010 to benefit from increasing confidence and continuing recovery in its markets.

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