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13th December
"Continuing good performance" in its contract logistics division contributed towards a 1.2 per cent year-on-year increase in revenue for Ceva to €1.76 billion (£1.51 billion). The Dutch company revealed in its results for the third quarter of 2011 that this rise was offset in part by lower volumes and freight rates, in particular within the aviation business. According to the figures for the three months to September this year, the supply chain management specialist saw its pre-tax profits climb by 5.8 per cent to €86 million. John Pattullo, chief executive of Ceva, remarked: "The actions we have taken over the past 18 months to reduce costs and improve our operational efficiency have resulted in better margins." He added he is pleased with the resilience the company is showing, with pre-tax profits improving even in markets that "have become tougher in recent months". Ceva has announced it has been named as the Best 3PL Supply Chain Provider in China at the Global Supply Chain Council's CHaINA Awards 2011.
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