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Blueheath

May 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • BLH
  • Price:
  • 152.5p
Blueheath has completed the acquisition of a private Welsh wholesaler called CTM Wholesale. It has paid £4.9m for the business which had sales of £45m and made an operating profit of £0.5m in the year to end March. To fund the deal, it has raised £6m via a placing of 3.9m shares at 155p. Blueheath said that the deal will supplement the organic growth. CTM currently operates with stock levels of approximately 22 days but the introduction of Blueheath technology will reduce this. In addition, there will be combined buying benefits and elimination of duplicated costs. With CTM kicking in for 11 months and assuming attrition of 20% of its turnover, Evolution forecasts total sales of £166m this year ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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