5th May 2006 07:01
Blueheath Holdings PLC05 May 2006 For immediate release 5 May 2006 BLUEHEATH HOLDINGS PLC (the "Company") Announcement of Preliminary Results Blueheath is a national delivered wholesaler which uses sophisticated,proprietary technology to offer a substantial cost advantage over establishedplayers in the £16.8bn grocery wholesale sector. The Company today provides anupdate on trading in advance of its preliminary results which will now beannounced on 30 May 2006. Integration Update The Company acquired A C Ward & Son Limited ("ACW") in November 2005 followingthe acquisition of CTM Wholesale earlier in the year. At the time, the Directorsanticipated that the enlarged group would be able to achieve improved operatingmargins through combining buying volumes, the application of Blueheath'stechnology and business processes to the ACW operation, and the integration ofcentral overheads. We are pleased to report that the Company remains on track to complete thepreviously identified integration work in the first quarter of the new financialyear, and has subsequently identified further cost saving opportunities for asecond phase of integration as referred to below. Trading Update Since last updating the market on 28 February, the Company has conducted adetailed review of the business operations and the current customer profile andlocations to ensure that the Company is on track to be profitable when the finalstages of the integration have been completed. The review is taking into accountbusiness integration, current trading, margin improvements and distributionassumptions and has identified a number of opportunities to reduce further theoperating costs of the business. The review will be completed shortly and whilstthe Company is not in a position to disclose further information today, it willbe able to provide a fuller update with the announcement of its preliminaryresults. The Directors do not anticipate any material change in the outturn for the2005-06 financial year from the position as reported on the 28 February. Blueheath Holdings plc Tel: 020 7689 2455Douglas Gurr, Chief Executive Tel: 020 7689 2464Simon Mindham, Finance Director Buchanan Communications Tel: 020 7466 5000Mark Edwards / Nicola Cronk / James Strong This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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