News / Bullish CEVA stems losses in H2 and says its turnaround is 'on track'

CEVA reported mixed half-year results today, with growth in freight management, but higher costs and low throughput in contract logistics.

However, the group saw net losses fall from $111m to $32m in the second half – “a positive signal” that its turnaround plan is on track.

Revenues fell 5.5% to $1.6bn in the second quarter, or 2.8% on a constant currency basis, and 8.7% to $3.23bn in the first half.

Freight management EBITDA, before specific items, grew $2m to $20m in Q2, and the company reported air ...