Customers stockpiling for the UK’s original departure date from the EU drove Boughey Distribution to record a leap in turnover and operating profit in the year to 31 May 2019. In results published today (30 July), Boughey Distribution owner NWF said its food distribution business had high storage levels throughout the period as a result of new customers and customers requiring additional stock in preparation for Brexit, which was originally planned for March. Turnover increased 18.6% to £47.9m (2018: £40.4m) […]
Last week the MT Tracker took a break as it was judging the MT Awards – but what a difference a week makes. Rentokil finally sold City Link, to investment house Better Capital. This does make a big difference to the MT Tracker as Rentokil’s size, in comparison to every other listed transport firm, was distorting the results of the Tracker. Excluding Rentokil gives us a much truer picture of investor sentiment in the sector.
NWF Group expects pre-tax profit for the six months ended 30 November to be greater than the same period in 2011, despite lower than expected performance in its food distribution arm. In its interim statement, the firm said its Boughey Distribution business performed “slightly behind expectations” as it did not take on as many new customers and receive as much business from existing customers as it expected, which it blamed on a “tough market environment”. NWF Fuels performed better than […]