RETAILER-owned wholesaler and symbol group operator Nisa says the business is back on track after it achieved positive half-year figures, which show it is likely to hit its full-year targets. and it secured a new financing deal that increases and extends its credit facilities.
The performance had been achieved in what the firm described as “a transitional year which saw the business restructure to recover from the loss experienced in the last financial year”.
Nisa announced it had achieved earnings before interest, taxes, depreciation, and amortisation before exceptionals (EBITDA) of £3.3m for the first half of 2015/16.
That put the business £3.5m better than the same point last year, it said, and sales volume had broken through 2m cases a week.
Nisa has set itself a target of £7.2m EBITDA for the full year.
Trading margins had improved, distribution efficiencies had been achieved, and overhead savings had been made at the company’s member support centre.
The business has been buoyed by recent contract wins, including a £1bn five-year contract with the new My Local business that bought Morrisons’ former M Local outlets.
The new finance deal with Barclays sees Nisa extend its facility by 24 months and gain additional funding to support the supply contract with the new My Local business.
