NFT reduces losses in FY17

NFT Distribution Holdings has published its financial results for the year to March 2017.

In the twelve months ended March 31, 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 produced a lower operating EBITDA margin of 3.2%. The company made a smaller loss before interest and tax (£4.3m) than the previous year (£13.4m).

NFT say part of these losses were due to capital investments made in the year. In July 2016 for example it acquired NR Evans Holdings.

Commenting on the 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.”

Source: NFT Distribution