Ceva growing with contract logistics
Ceva Logistics improved its financial results in H1, with revenues coming in at USD 3.32 billion (up by 5.8% in constant currency and 2.6% in actual currency). The adjusted ebitda came in at USD 124 million, up by USD 11 million in constant currency versus the prior year. The improvement in profits was driven by growth and cost savings achieved from the firm's 'excellence programme', which more than offset margin pressures in the air and ocean segments.
Continuing cost reductions will support profits in the coming quarters, says Ceva Logistics. The new business contract logistics ensured continued top-line growth in Q2. Revenues were up by 4.5% in constant currency. Freight management achieved revenue growth of 8.8% compared to 2016 (in constant currency), with airfreight volumes up by 15.6%. (mw)