News / Ceva Logistics gains market share in third quarter, despite a bumpy road

first_img Ceva Logistics today reported third-quarter results that showed it winning market share in both freight forwarding and contract logistics.However, despite strong volume growth in both air and ocean forwarding, group revenues remained flat due to weak market pricing.The Nertherlands-headquartered company saw $1.68bn in revenue for the period, This compares with 1.7bn in the same period last year – although it claimed that on a constant currency basis its revenues were $1.72bn.Adjusted EBITDA was $75m, or $80m on a constant currency basis, compared with $80m in the third quarter of 2015. By Gavin van Marle 14/11/2016 And it finished the period with $524m of headroom – the liquidity available either as cash or undrawn under various debt facilities.Ceva said its air freight volumes had grown 10.6% year-on-year, due to a mixture of “new business and an increasing share of wallet with existing customers in numerous sectors and strong development in selected tradelanes”, with the transatlantic eastbound and transpacific westbound identified as areas of particular strength.Meanwhile, sea freight volumes were up 4.4%, year-on-year, with Asia-US trade the star performer, despite reports that the trade as a whole has had relatively lacklustre quarter.Although revenues have been under pressure for several years, due to the soft market as well as its reliance on air freight, Transport Intelligence’s Global Freight Forwarding 2016 report claims Ceva’s forwarding arm is mainly focused on air freight, “which is suffering a structural loss of customers – its margins have improved as a result of its productivity improvement plan”.Last year, the company reported a EBTIDA for freight management of $70m for the full year, a 212% increase on 2013, but was delivered on the back of declining revenuesThis year’s third quarter saw revenues decline 1.4%, Ceva said, while EBITDA of its freight management division was £27m for the period, a 22% increase on a constant currency basis on the $22m delivered in the third quarter of 2015.Meanwhile, its contract logistics business saw revenues rise 3% year-on-year, due in large part to new contract wins in consumer and retail, industrial and healthcare. Contract logistics posted an EBITDA of $38m.CEO Xavier Urbain said: “Ceva’s top line performance continued in the third quarter. We have experienced good growth in Contract Logistics revenue driven by market share gains.“We have had a number of customer wins in the third quarter and our new business pipeline is strong. This demonstrates that our strategy is working and delivering results.“Our ‘Operational Excellence Program’ is being implemented successfully and is anticipated to generate benefits that will accelerate in upcoming quarters. I am confident that the actions we continue to implement will drive robust performance in both our revenue and margins in 2017.”last_img read more

Furloughed worker took pay cut in hopes of a more stable future, now doesn’t know when she’ll get paid again

first_imggguy44/iStock(NEW YORK) — Candice Nesbitt, a furloughed worker and Navy veteran, took a $20,000 pay cut for the security of a federal job and now doesn’t know when she’ll receive her next paycheck.“This has really dug in deep,” she said.Nesbitt has a special needs grandson she cares for and has gotten help from family friends.She took issue with Trump’s thoughts on furloughed workers supporting him, saying, “The bank account is looking real slim and I just don’t think he’s [Trump] facing reality.”Watch the video below for the full segment.Copyright © 2019, ABC Radio. All rights reserved.last_img

Knowing the numbers: Indianapolis fantasy stats to consider

first_imgTop five in points earned in last two races at Indianapolis: Matt Kenseth11.211 Kyle Busch236 Kyle Busch10.882 DriverRace pointsRace wins Erik Jones9.547 Kevin Harvick130 Matt Kenseth21 Kasey Kahne631 Martin Truex Jr.180 Matt Kenseth810 Average starting position for last 10 winners: 7.4; Six of past 10 winners have started on the front three rows.Active drivers to win pole: Kevin Harvick (2), Kyle Busch (2), Jimmie Johnson (1), Denny Hamlin (1), Reed Sorenson (1), David Ragan (1), Ryan Newman (1)Active drivers to win at Indianapolis: Jimmie Johnson (4), Kyle Busch (2), Kevin Harvick (1), Kasey Kahne (1), Jamie McMurray (1), Paul Menard (1), Ryan Newman (1)Most recent pole winner: Kyle Busch, July of 2017Last time pole-sitter won here: Kyle Busch, July of 2016Where stage winners started from: Pole (twice)Winning manufacturers of last 10 races: Chevrolet-8, Toyota-2 Numbers mean plenty when it comes to building out your Fantasy Live teams each week. NASCAR.com will examine the stats outlook for each track to help give you an edge as you set your lineups and bonus picks ahead of the race.Don’t forget to check back on NASCAR.com for additional insight from fantasy expert RJ Kraft as well as to watch Fantasy Fastlane with Jessica Ruffin and NBC Sports’ Steve Letarte.RELATED: Set your Fantasy Live roster now | How the new Fantasy Live works | Driver statsTop five average running position at Indianapolis (per loop data from 2005 to the present): Joey Logano780 DriverAverage Running Position Joey Logano/Matt Kenseth100 Top five in stage points earned at Indianapolis in 2017: Kyle Busch202 DriverStage pointsStage wins Kyle Busch681 Kyle Larson9.855 Most laps led in last two races at Indianapolis: Brad Keselowski38 Kevin Harvick790 DriverLaps led Jimmie Johnson11.315 Ryan Blaney160last_img read more

New Chinese medical team performs over 30 surgeries in Sierra Leone

first_imgNurse handing doctor surgeon operating room OR staff surgical tool assisting performing doing surgery surgical procedure in operating room theater sterile clean professional hospital environment as a group team together careful healthcare dressed in scrubs uniforms gowns precaution protection with patient in background Nurse handing doctor surgeon operating room OR staff surgical tool assisting performing doing surgery surgical procedure in operating room theater sterile clean professional hospital environment as a group team together careful healthcare dressed in scrubs uniforms gowns precaution protectionThe 21st batch of the Chinese medical team in Sierra Leone on Saturday told Xinhua that they have performed over 30 surgeries in various areas for around one month.Jiang Haibo, a member of the Chinese medical team, said they are happy to be in Sierra Leone and share their experience with the local medical staff.“We are trying our best to teach them basic skills and we are happy working in Sierra Leone,” he said.Jiang expressed determination, on behalf of the team, that they want to do more in improving Sierra Leone’s healthcare system.“We want the hospital to be the best in the entire West African region and we need more equipment. The hospital has some basic equipment based on the standard of the country but we need more,” he said.The Sierra Leone-China Friendship Hospital, where the Chinese medical team is based, is now one of most well-acclaimed hospitals in the country.Abasakarr Amana, a 32-year-old patient who was just saved from a sudden coma, told Xinhua that he really appreciates what the Chinese doctors have done for the locals.Related Chinese medical team hailed for healthcare services in Rwanda Chinese Medical Team in Sierra Leone Help Fight Ebola Outbreak center_img Chinese medical team delivers medical aid to Rwandan hospitallast_img read more