NFT Distribution has grown profit on its own

Chilled logistics operator NFT Distribution says it has seen growth in both turnover and profits since it separated from former parent company Northern Foods following a £51.2m management buy-out last August.

The Alfreton, Derbyshire-based firm is on course to hit a turnover of £120m in the year ending March 2007, according to its CEO David Frankish.

He adds: "It is going very much to plan we are going to exit the financial year with a higher run rate than last year. We are definitely on track with our growth plan."

It has just renewed a contract for an undisclosed figure with retailer Sainsbury to handle its primary chilled distribution. The three-year deal follows NFT's appointment in December last year to run Sainsbury's South-west ambient consolidation centre.

Frankish says that contract discussions are ongoing with a number of other retailers and says that it is targeting the time sensitive ambient sector as well as its traditional chilled market. He adds that improved trading at its third biggest customer, Northern Foods, is also helping.