NFT Distribution reported profit up but turnover down in its first trading year under the ownership of private equity backer EmergeVest. For the 12 months to 31 March 2015, turnover fell 4% to £162.6m, compared with £169.4m the previous year. Pre-tax profit rose 28.7% to £2.2m. NFT said the dip in turnover was mostly due to a reduction in volume-related pass-through costs in open-book contracts, and lower fuel surcharge revenues. However, it also cited 18 new customers being added to […]
Surrey-based removals business Bishop’s Move has been sold to UK trade buyer AGM Group in a pre-pack deal.
Creditors of NFT Distribution Operations have contacted Motor Transport, criticising the way its business and assets were sold and unhappy that it could take months before unpaid invoices are settled.