• The long-awaited NFC flotation will be recommended by the
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board at the company's next annual general meeting on 21 February in Blackpool. With the company expecting a turnover of more than £1 billion in 1988, its outlook is bullish. Last year its turnover was nearly £750 million.
Last week NFC Distribution Group managing director Robbie Burns announced that the group aims to gab the market lead and plans to double in size. It will invest £5 million in technology during the next two years. Burns says: "We will be using technology for distribution solu tions throughout our group."
Some 83% of NFC's equity is in the hands of more than 65% of employees. It is believed, should the flotation be agreed at the AGM, that the company will want to attract investment from outside. Existing shareholders will be given preference.
The company will not say what price the floated shares could be expected to reach, nor how many would be floated. No recommendation on price or whether or not they will be voting shares will be made until the AGM.
As Commercial Motor went to press, NFC was priced at 117.5p per ordinary share.