Blueheath ups sales 90% but is still below forecasts

Blueheath has warned that revenue and profits for its financial year ending March 4 2006 will be below the expected level.

In a year-end trading statement it said it was facing challenging market conditions with many customers trading at levels substantially below the previous year. Nevertheless it said it expected revenue to be about pound;133m, a 90% increase on the previous year.

The company has not made a profit since it was formed, but the directors said it had now reached a scale where, when integration of its recent purchase AC Ward Son was completed, it was expected to trade profitably.

The statement also confirmed that the company had “a number of potential further acquisition targets”.

Blueheath has also announced it has won the contract to supply forecourt group Extra MSA, delivering to seven sites, mainly in southern England.

“Blueheath clearly understands the forecourt market well,” said MSA operations director Peter Harmer.

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