CEVA pre-tax profit up 25pc, debts reduced

GLOBAL supply chain giant CEVA Logistics has reported revenue increase of 24 per cent to EUR6.8 billion (US$9.49 million) for full-year ending December 31, 2010, and a pre-tax profit increase of 25 per cent to EUR292 million on the back of an improved automobile sector and new business.


Profit growth was attributed to significant contracts with the largest cosmetics and beauty companies in Indonesia and India, increasing the share of the pharmaceutical sector by 60 per cent in Italy and gain in logistics in Turkey, as well as the launch of its first of four multi-market warehouses in the Czech Republic.


Its fourth quarter revenue and EBITDA results of EUR1.6 billion and EUR58 million were up 22 per cent and 35 per cent respectively compared to year previous.
(Source:http://www.schednet.com)