Ceva posts EBITDA of £27m for Q1

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Ceva Logistics has reported EBITDA before specific items of £27 million (30 million euros) for the first quarter of its financial year.

The company also posted sales of £1.1 billion (1.3 billion euros), as well as £515m) 575m euros in new business wins for the quarter, a 20 per cent increase on the previous year.

Ceva believes this increase has been driven by additional opportunities being presented as a result of the current economic climate as companies look to further outsource and optimise their supply chain costs.

The company added that it would remain focused on a number of cost containment and elimination programmes to reduce direct costs and overheads. In total it expects to deliver saving of more than £90m (100m euros) in incremental cost savings during 2009.

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