1st Mar 2005 07:02
Blueheath Holdings PLC01 March 2005 For immediate release 1 March 2005 BLUEHEATH HOLDINGS PLC (the "Company") Year End Trading Statement 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, today provides an update ontrading for the year ending 26 February 2005. Preliminary results will beannounced on 4 May 2005 New Account Wins Blueheath is pleased to announce four new account wins and an extension to anexisting contract. These accounts are expected to be fully operational within 8weeks and will add in excess of £34m net of incremental revenue. The newaccounts comprise two forecourt operators, a leisure sector operator and theCompany's first food service operator. The contract extension relates to theroll out of Blueheath's service to an additional 17 Malthurst sites. Other current trading developments include a two-year extension to the existingagreement with Vue Cinemas and the continued success of the Company's expandedoffer to smaller and medium sized chains. Trading Update With the addition of the revenue from the recent account wins, Blueheath'sannualised run rate will be close to the year end turnover forecast expected atthe time of the AIM listing in July 2004. However, due to the time it has takento secure and roll out these accounts, both revenues and profits in the currentfinancial year will be lower than expected at the time of the AIM listing. TheDirectors therefore expect revenue for the year ended 26 February 2005 to beapproximately £70m. Trading Prospects The Directors have always been keen to stress that timing of new account wins isdifficult to predict, but are encouraged that the accounts detailed above have,after some timing delays, closed as expected. Recent account wins have nowplaced Blueheath in a position consistent with our stated objectives and the newbusiness pipeline also remains strong. 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 / Tom Carroll email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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