Tighter margins for Ceva

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Ceva saw its profit margin slip in the second quarter, falling from six per cent to 5.6 per cent on sales that rose 9.4 per cent to 1.7 billion euros (at 2007 exchange rates).

Weakening of the pound and dollar against the euro have had a big effect on Ceva’s results. Unadjusted figures show sales growth of 76 per cent to 1.6 bn euros and growth in EBITDA of 50.8 per cent to 89m euros.

The company said both the Contract Logistics and the Freight Management operations continue to show increasing growth momentum.

Chief executive John Pattullo said: “In recent months we have realigned our organisational structure into four geographical regions to create a more customer focused and responsive structure. We have also developed a very clear set of strategies and plans to shape the future direction of Ceva.

“Our customers are reacting positively to these changes and we have experienced a number of significant wins during the quarter. Although trading conditions are challenging, we believe that Ceva’s current momentum will allow sustained progress.”


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