William Ransom reports progress in 2010 fiscal year

William Ransom has published its financial report for the year ending March 31st 2010, reporting progress towards several key objectives despite difficult trading conditions.

The healthcare company highlighted the fact that it has been able to restore its two manufacturing divisions to profitability and refine the business focus of its consumer health operations, while enjoying healthy sales for its natural products division.

Moreover, it was able to strengthen the fiscal foundations of the company by agreeing a three-year refinancing deal with KBC Business Capital in April 2010.

As a result of these changes, William Ransom non-executive chairman David Suddens stated that the firm will now be able to push forward with the execution of its long-term strategy.

He said: "As savings from the restructuring of the supply chain are realised, resources are expected to become available to develop new products and to invest in consumer communication."

Earlier this month, the company announced the imminent appointment of Fred Whitcomb as its new chief executive, replacing Ivor Harrison, who leaves to take up a position at the newly-founded health snacks business Snapz Ltd.