Blueheath has announced that its restructuring has already achieved annualised benefits in excess of pound;3.5m and it expects it will now become profitable in the middle of 2007.
Last year Blueheath announced details of its recovery plan after five straight years of losses following its formation.
In the last few months Blueheath’s operation has been restructured, and this has now been completed.
Blueheath said it has delivered significant benefits and improved customer service from its West Thurrock depot, in Essex, including setting up its own delivery network. Blueheath said it was now delivering to all of its accounts and was achieving service levels in excess of 97%.
The company has further strengthened its balance sheet by raising pound;3.6m of equity capital from existing shareholders.
Mark Aylwin, CEO of Blueheath, said: “I am really pleased with the progress being made. We are now in a position to significantly grow our business. We have a strong customer proposition combining the very best elements of Blueheath’s advanced web-based technology with a traditional customer focused, delivered wholesale model.”