NFT Distribution Operations Limited, the UK market leader in chilled food distribution, today publishes its financial results for the year to March 2016.
In the twelve months ended 2 April 2016 revenue was ВЈ158. 6 million (2015: ВЈ162. 6 million) and operating company EBITDA was ВЈ8. 2 million (2015: ВЈ9. 6 million) reflecting an operating EBITDA margin of 5. 2%. Operating company profit before interest, tax and before exceptional items for the year was reported at ВЈ2. 4 million (2015: ВЈ4. 3 million). The slight decline in both revenue and EBITDA figures are evidence of the headwinds affecting both the UK grocery retailing sector and NFT. As one of the UK’s leading distribution groups, NFT’s strategy is to provide the most efficient chilled logistics solutions for the UK food retailers, using their specialist transport fleet to deliver on average 130,000 pallets per week across the UK. In line with the Company’s strategy, NFT announced the acquisition of NR Evans Holdings Limited to add further capacity to NFT. This was announced in July 2016 (after this financial year had closed) and the benefits of this will become evident in the full year ending March 2018. In March 2016, the new NFT London multi-temperature transhipment warehouse facility at the Port of Tilbury was formally opened by the Lord Mayor of London and is now fully operational and new customers are starting to make use of the facility.
The business also strengthened its capital base during the financial year with ВЈ10 million of investor loan notes being converted into equity, in the form of new preference shares. Commenting on today’s news David Frankish, CEO of NFT, said: Our strategic focus on being the market leader in our field has been enhanced by our recent investments and I believe NFT is well placed to achieve sustained profitable growth NFT is the vital supply-chain link between chilled food and drink manufacturers and the retailers. It undertakes the expert management of some ВЈ11 billion per annum of chilled food, under strict temperature-controlled conditions and to very short timelines, from the point of production to the supermarket shelf.
The company operates from eight strategically located sites around the UK at which it employs 2,500+ employees and agency staff, from which they deliver around 130,000 pallets per week of food and drink.