Ceva posts strong organic growth in first half of 2016
Consolidated sales for animal health company up 7 percent
Consolidated sales of the Ceva Group reached EUR455 million (US$501 million) at the end of June 2016, representing growth of 7 percent when compared to the first half of 2015.
The animal health company’s sales grew in all geographic zones, except Latin America, which was stable versus last year (despite significant negative currency impact), with strong performance in Asia (up 31 percent) and Europe (up 13 percent).
Sales for all species are growing, especially poultry (up 12 percent globally) and swine (up 11 percent).
The group delivered an operational result ahead of its budgeted objective and continued to make significant investments in research & development 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.”