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Northern Foods aims to sell off NFT Distribution
Page 15
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THERE HAS BEEN renewed speculation this week over the future of chilled distribution firm NFT Distribution.
Its parent company Northern Foods has issued a series of profit warnings this year and has been trying to sell off NET for several years as part of a strategy to divest itself of non-core businesses. The latest rumours indicate that Alfreton, Derbyshire-based NET will be up for grabs next month.
Northern Food's hoard are expected to discuss NFT's future at a meeting this week, along with a number of other disposals including its bakeries division.
The company is understood to be making changes as part of an operational review: it says pre-tax profit for the year to I April 2006 will be about £45m. Earlier expectations were closer to £62.2m.