Turnover at Ceva Logistics fell 6% in the first three months of 2013, while its profit halved as the company continued with its cost reduction measures. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell to €31m (£26m), compared to €66m in the first quarter of 2012. Global turnover fell to €1.6bn, compared to €1.7bn in the same three months a year ago. Ceva CEO Marvin Schlanger said: “The weak economic conditions impacting the global logistics industry continued to […]
Profit margins continue to be held back by customers’ reluctance to increase rates, John G Russell (Transport) chief executive, logistics, Alan Poulton has warned.
Adjusted EBITDA at Ceva Logistics doubled to $80m (£51.6m) during the second quarter of 2013 as it continues to restructure its balance sheet and experience more growth in the UK.
Ceva Logistics has renewed its contract with newspaper publishers Trinity Mirror for five years, building on a ten-year relationship between the two parties. As part of the contract Ceva makes 33,000 deliveries of the Daily Mirror and Sunday Mirror to Trinity Mirror’s wholesaler network each year. Jon Evans, Ceva’s senior general manager for business development, consumer, retail and media, says: “We are delighted to extend the relationship based on our proven and consistent levels of performance. “By identifying significant improvement […]