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N FT boosts profit amid takeover speculation
Page 10
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CHILLED FOODS specialist NFT Distribution boosted its pretax profit by more than 25% last year to £4.1m.
The Nottinghamshire-based company, which was founded in the early 1980s, is thought to be ripe for takeover after parent group Northern Foods said it was looking to dispose of its non-core businesses.
Turnover in. the year to April remained steady at just over £1m, but the average number of employees fell slightly, to 1,250. In March, NFT scrapped its final-salary pension for new recruits in favour of a system called Pension Builder.
All remaining early retirement provisions funded by the company have also been axed.
Although NET is a whollyowned subsidiary of Northern Foods, it works for many other food manufacturers. Supermarkets now form the largest proportion of its customer base.
The company has a fleet of 250 vehicles.