Blueheath Holdings PLC
15 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 established
players 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 chains
operated by major multiples and Blueheath continues dialogue and negotiations
across the sector.
The pipeline of new business remains healthy although as previously stated the
precise timing of new account wins is always hard to predict. The conversion of
accounts also remains unpredictable with some accounts switching to Blueheath
very quickly with others taking longer than initially expected to become fully
The Company continues to pursue a strategy of growing both organically through
new account wins and potentially through further tactical acquisitions of
traditional wholesalers that have the potential to be converted to the Blueheath
model of operation.
Early results from the Company's first acquisition, CTM Wholesale, are
encouraging with trading progressing well and revenue ahead of initial
expectations. Customer feedback has been positive and the integration of the
business and roll out of Blueheath systems is on track.
Taken as a whole, the Directors are pleased with the progress the business has
made so far in this financial year. Whilst forecasting will continue to be
challenging owing to the nature of the business, the Directors believe that the
year will be in line with expectations. In addition, the Group has sufficient
cash and other resources to meet the current core business plan.
Blueheath Holdings plc
Douglas Gurr, Chief Executive Tel: 020 7689 2455
Simon Mindham, Finance Director Tel: 020 7689 2464
Buchanan Communications Tel: 020 7466 5000
Mark Edwards / Nicola Cronk / James Strong email:firstname.lastname@example.org
This information is provided by RNS
The company news service from the London Stock Exchange