John Pattullo, the CEO of Ceva Logistics, says that the integration between the former TNT Logistics business and Eagle Global Logistics has "exceeded expectations" since the two companies combined in May last year. Pattullo, who joined the business from DHL, says the two firms have come together "really smoothly", which is beginning to be reflected in Ceva's results.
Revenue increased by 8% in the first quarter of 2008, up from 5% the year before. He adds: "We are ahead of last year
and infinitely ahead of the 0% growth that TNT Logistics was showing." He says that the goal is to break the €10bn turnover barrier by 2010 it is currently at €6.5bn - which would represent growth of 17.5% per year.
Pattullo explains the reason for its previously poor performance: "TNT Logistics was never a priority for [TNT parent] TPG. I think as a consequence it had great capabilities in the operational area, very good systems and great people, but somehow it never leveraged that properly. We were astonished and delighted to find how much was in the cupboard that had not been deployed globally."
He says the firm's hidden assets include geographical strengths, such as in Eastern Europe, and product offerings, such as home delivery. Pattullo adds that the firm's new UK MD, Nick Cullen, will bring an international perspective and "a deep understanding of what customers want".
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