NFT’s group revenue jumps nearly 30%

NFT reports its revenue up 27.5%

Alfreton, Derbyshire, UK: Chilled food distribution company NFT Distribution Holdings has reported an increase in group revenue of 27.5% to £202.2m (2016: £158.8m) for the 12 months to 31 March 2017.

NFT says that the results present an operating EBITDA margin of 3.2% and “reflect the continued investment by the business in increasing capacity to facilitate future growth”.

Loss before interest and tax for the year was reported at £4.3m (2016: £13.4m).

NFT says that it made significant progress on its multi-year strategic plan; achieving record revenue; completing the acquisition of NR Evans Holdings Limited in July 2016; increasing activity levels at the new multi-temperature logistics facility at the Port of Tilbury; investing in operational excellence; winning significant new business; and bolstering its capital structure.

Heath Zarin, chairman of NFT and managing director of EmergeVest (NFT’s owner), said: “We are pleased with the progress made during fiscal year 2017, which positions us well to achieve our strategic objectives. We have gained further momentum in fiscal year 2018 and look forward to exciting announcements in the near-term.”