Ceva delivers double-digit growth in first half of 2017
Animal health company’s sales up in all geographical zones
Consolidated sales of the Ceva Group reached EUR546 million (US$635.7 million) at the end of June 2017, representing growth of 20 percent when compared to the previous year and a 6.6 percent increase at constant perimeter and exchange rates.
The global animal health company’s sales grew across all zones despite significant negative currency impact, especially in the Africa, Middle East, Eastern Europe, Russia and Turkey zone which grew by 14 percent (at constant currency and perimeter), with strong overall performance in Latin America (up 87 percent), Asia (up 40 percent), North America Pacific (up 13 percent) and Europe (up 10 percent).
The company’s performance for all species are growing, especially the swine division (up 45 percent) and ruminant animals (up 36 percent) reinforced by acquisitions, with poultry (up 11 percent) and companion animal (up 16 percent) also posting significant organic growth.
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 said: “This is a very positive start to the year, continuing our trend of double-digit growth. Thanks to the contributions of our new colleagues in the businesses recently acquired and the extraordinary commitment of all Ceva employees, we were once again able to outperform the average growth in the animal health sector.”