Ceva profit falls 'not good enough'


The chief executive of Ceva Logistics has said reporting a 22% year-on-year fall in profit “simply isn’t good enough” as it continues with further cost-cutting measures. For the year-ending 31 December 2012 the Ashby-de-la-Zouch based logistics company saw global turnover rise 4.8% to €7.2bn (£6.1bn) but did say that if it had not been adjusted at constant currency rates, revenue would have remained flat. However, EBITDA (earnings before interest, taxes, depreciation, and amortisation)  fell 21.8%  to €251m (£213m) compared to […]