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Ceva Achieves Best Performance

7 December 2011, at 1:48pm

GLOBAL - Ceva achieved its best performance in history last year with sales up by 18.5 per cent, a 60 per cent margin - up by 24.6 per cent - and an operating profit of €66 million.

In the company's annual report, Ceva says it also maintained high levels in its investment programme with nine per cent of sales going to R&D and 5.6 per cent of sales for production.

The company said it restarted its "engine for external growth" by making two major acquisitions in the US and Australia.

The first, Summit VetPharm has given Ceva entry into the largest single segment of the global animal health market - companion animal external parasiticides in the US.

In 2010, Ceva said it approached its business with a new vision: "Together we are building a new reference to create value beyond animal health."

The target of the new vision is for the company to rank in the top five companies in animal health, achieve a turnover of €1 billion and improve net profitability to reach 20 per cent by 2015.