Transportation Industry
Ceva Group's Operating Profits, Sales Higher in 3rd Qtr.
Transport Topics, December, 2007 by Anonymous
Ceva Group, a provider of logistics services based in Hoofddorp, The Netherlands, said operating profits grew in the third quarter - its first reporting period since completing the acquisition of U.S.-based freight-forwarder EGL Inc. for $2 billion in August.
Ceva, formerly known as TNT Logistics, said earnings before interest, taxes, depreciation and special charges, were 93.1 million euros compared with 57.5 million euros. Total net sales were 1.3 billion euros in the three months ended Sept. 30, up from 840.4 million euros in the same period a year ago.
The results include two months of revenue from EGL's operations.
On a standalone basis, Ceva said EGL earned 38.3 million euros on revenue of 735 million euros for the third quarter, up from 32 million euros on...
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