Ceva Logistics has postponed its proposed float on the New York Stock Exchange (NYSE) as it looks to restructure its balance sheet and stem its shrinking profits. In May 2011, Ceva, which is owned by affiliates of Apollo Global Management, revealed its intentions to file for an initial public offering (IPO) on the NYSE. However, yesterday it reported a 22% fall in annual pre-tax profit which its chief executive Marvin Schlanger labelled “not good enough”. Speaking to MotorTransport.co.uk, Rubin McDougal, chief […]
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.
Manchester-based AKW Group returned to profitability in 2013, as both its transport and warehousing businesses enjoyed bumper trading.
Container haulier Macintyre Transport has reported a 26% rise in profits on the back of extending the working life of some of its vehicles.