Ceva Posts Strong Double-Digit Growth in First Half of 201626 July 2016
FRANCE - Consolidated sales of the Ceva Group reached €455m at the end of June 2016, representing growth of 7 per cent versus last year +13 per cent at a constant perimeter and exchange rates.
Sales grew in all zones, except Latin America, which was stable versus last year (despite significant negative currency impact), with strong performance in Asia (+31 per cent) and Europe (+13 per cent).
All species are growing, especially Poultry (+12 per cent global) and Swine (+11 per cent).
The group delivered an operational result ahead of its budgeted objective and continued to make significant investments in R&D (c.10 per cent of sales) and production sites around the world.
Dr Marc Prikazsky, Ceva’s Chairman and CEO commented: “The organic growth of the group remains consistent and ahead of our 2020 business plan. Additionally, we made three strategic acquisitions in the last 6 months: iD Projects (hatchery automation and equipment), Polchem (geo-expansion in India) and Biovac (autogenous vaccines). It’s very pleasing to see our attractiveness to other top talented teams, who have chosen to join our success story. We continue to invest in our people, plants and our product pipeline, in order to fuel our virtuous circle of profitable growth.”
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