CEVA Logistics increases profits despite 10% slide in turnover


 

CEVA Logistics saw its turnover fall by 10% last year due to the non-renewal of existing contracts. However, figures published for the year ending 31 December 2019 showed that the logistics company increased pre-tax profits by £7.7m to almost £10m. Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to £21.8m from £15.5m in 2018 and the company said the improvements were driven by “a decreased cost base and improved financial controls”. In its strategic report, the company explained that […]