Ceva revenues up but profits down

FOR the three months ending 30 June Ceva Logistics’ revenue rose €1.7 billion (US$2.1 billion), up from €1.3 billion ($1.6 billion) in the same quarter last year. This was thanks to recovered freight volumes in the automotive, retail and technology sectors.

However, profit fell to €65 million ($83 million) from €69 million ($88 million).

John Pattullo, chief executive officer of CEVA, said the results showed the “continued growth of our business and progress in implementing our strategy” and blamed one-off start-up costs for new contract.