NFT Financial Results – “A Year of Significant Progress.”
NFT Distribution Holdings Limited, the UK market leader in chilled food distribution, today publishes its financial results for the year to March 2017.
In the twelve months ended 31 March 2017 Group revenue increased 27.5 per cent to £202.2 million (2016: £158.8 million), generating an EBITDA of £6.5 million (2016: £7.8 million). 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 £4.3 million (2016: £13.4 million).
NFT 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.
Commenting on today’s news 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.”