15th Jun 2005 07:00
Blueheath Holdings PLC15 June 2005 For immediate release 15 June 2005 BLUEHEATH HOLDINGS PLC (the "Company") AGM and Trading Update Blueheath, the national delivered wholesaler, which uses sophisticated,proprietary technology to offer a substantial cost advantage over establishedplayers in the £16.4bn grocery wholesale sector, will today hold its AGM at 3pm.At which the following update on current trading will be announced. The focus of Blueheath's business is on the growing area of convenience stores.This overall market includes small independent retailers, petrol forecourts,multiple account chains, leisure, catering and the convenience store chainsoperated by major multiples and Blueheath continues dialogue and negotiationsacross the sector. Current Trading The pipeline of new business remains healthy although as previously stated theprecise timing of new account wins is always hard to predict. The conversion ofaccounts also remains unpredictable with some accounts switching to Blueheathvery quickly with others taking longer than initially expected to become fullyoperational. The Company continues to pursue a strategy of growing both organically throughnew account wins and potentially through further tactical acquisitions oftraditional wholesalers that have the potential to be converted to the Blueheathmodel of operation. Early results from the Company's first acquisition, CTM Wholesale, areencouraging with trading progressing well and revenue ahead of initialexpectations. Customer feedback has been positive and the integration of thebusiness and roll out of Blueheath systems is on track. Summary Taken as a whole, the Directors are pleased with the progress the business hasmade so far in this financial year. Whilst forecasting will continue to bechallenging owing to the nature of the business, the Directors believe that theyear will be in line with expectations. In addition, the Group has sufficientcash and other resources to meet the current core business plan. Blueheath Holdings plcDouglas Gurr, Chief Executive Tel: 020 7689 2455Simon Mindham, Finance Director Tel: 020 7689 2464 Buchanan Communications Tel: 020 7466 5000Mark Edwards / Nicola Cronk / James Strong email:[email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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