The RNSM announced that it had sold its old factory site for ?8.575 million, which is way above the value shown in the company accounts. It looks as if this will increase the companys Balance Sheet value by approx. 35/40%. The companys Market value (based on the current share price of 42p) is under ?10 million, whilst the Balance Sheet value will be approx. 15/16 million.
This would seem to indicate a seriously undervalued (and cash rich)company.

Having a good run, up 2% at the mo.

In Money Week today, "The five tastiest stocks on Aim" pages 22/23 & of course RNSM is one of them. regards goal.

Nice +5% move this morning.

This company has had so many recommendations of late & what happens?? the price slips down.

This is because all the institutions are making a quick buck out of all the cheap shares they got from the placing.

Hi Everyone, just found this thread and yes I do hold RNSM shares also. The market PE of 62 for the year hasn't helped the share price hence slow trading volumes. The good news is though broker Numis Securities forecasts 11.79 for next year which should attract attention and place RNSM on the radar for many. With a 3% dividend yield 84.3m shares in issue RNSM is in my book still good value at its current price. Also worth noting is that RNSM has only 2.9m of debtors so is expected this year to turn a decent profit.... I am holding on this share and may well take a bigger holding whilst the price is cheap.

For Immediate Release 31 August 2005


William Ransom & Son plc ('Ransom')

Board Change


Ransom, one of the UK's leading natural healthcare companies, announces that
Jacqueline Paterson has resigned as a Non-Executive Director with effect from
today, 31 August 2005.

Jacqueline's resignation follows her decision to take a sabbatical for a year,
part of which time will be spent travelling overseas with her family

Commenting on Jacqueline's departure, Timothy Dye, Ransom's Chairman said,

"Jack has contributed strongly to the development of Ransom which, during her
time on the Board, has grown substantially and made three acquisitions, most
recently of Optima Healthcare for 23m.

The Board is most grateful for her contribution and wishes her well for the
future."

- ENDS -

Ex-dividend date: 7 sept, payment date: 3 oct. regards goal.

This was tipped in the Business Weekly as a Strong Buy over the weekend, so am a little supprised that it did not tick up in price so far this week.

AGM is on September 16th.

Notifier Holding
Fred Whitcomb 11,806,929
Steve Quinn 11,806,929
David Wilkie 3,413,793
Tim G Dye 974,472
C J Clark 750,000
William J N Nabarro 80,000
Robert Howard 79,623

explosive,if Tim Dye dont come up with the goods in this company after taking over Optima etc the top 3 names on this list could have him out because they own over 25% of the company and as the sp aint moved for them,they want to protect there interest.Me thinks the witham move aint working to plan either and think there contract manufacturing is way off beam and could show up in the next update on rnsm !!!
EverythingClothes

Please not THESE ARE ONLY MY VIEWS,dyor nag etc

Mega...

Mega Bucks, what makes you think that Tim Dye might not come up with the goods and that the plant move isn't working out then?

The shares are only down 2% on the year, considering all the change thats been made this result isn't too bad. Next year I think will be the teller when the new plant is fully opperational and in full swing..

Explo

Interims due on the 15th. Both Numis Securities and Fyshe Horton Finney Ltd have strong buy recommendations. Good news maybe on the way!

Ransom(William) & Son PLC
15 November 2005


For Immediate Release 15 November 2005

WILLIAM RANSOM & SON PLC

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2005

William Ransom & Son plc ("Ransom"), one of the UK's leading natural healthcare
companies, today announces its interim results for the six months ended 30
September 2005.

Ransom's objective is to establish itself as the UK's leading natural product
based consumer healthcare Company through both strong organic growth and
acquisition.

Highlights:

Sales increased by 38% to 13.4 million (2004: 10.89 million)

Group profit before tax, amortisation of goodwill and exceptional items
up 63% to 1.3m (2004: 0.8m)

Earnings excluding exceptional items per share of 0.57p (2004: 0.79p)

Gross margins improved from 36% to 40%

Exceptional costs of 0.6m arose due to low output in new production
units, as new processes took longer than planned to bed in

Manufacturing order books at record levels

6th and largest acquisition in 4 years - Optima, performing well;
integration benefits expected in H2

Timothy Dye, Chairman and Chief Executive of William Ransom & Son plc,
commenting on the interim results said,

"Our consumer healthcare business, which now accounts for 75% of the Group's
sales, continues to grow well. The successful integration of Optima and the very
positive US glucosamine trials should drive further consumer healthcare growth
in the second six months and beyond. Order books for contract manufacturing are
at record levels and should translate into a stronger performance in this area
too. Following the site move and recent acquisitions, the Group is well on track
in the implementation of its strategic objective to transform itself into one of
Europe's leading natural healthcare companies."

For further information please contact:

William Ransom & Son plc On the day: 020 7466 5000
Tim Dye - Chairman & Chief Executive Thereafter: 01462 437615
Robert Howard - Finance Director

Buchanan Communications 020 7466 5000
Charles Ryland / Mark Court / James Strong

Chairman's statement

It has been another exciting and important six months of development for the
company, during which time considerable progress has been made. Our largest
acquisition so far, in June, of Optima Health ("Optima"), has established the
Group as one of the largest players in the UK's natural consumer healthcare
market and has greatly improved our product range and distribution capability.
Integration of the businesses has proceeded rapidly and effectively and Optima
is performing well. Good levels of growth have continued at Health Perception
and have been restored in the rest of the consumer healthcare business.
Production efficiencies at the new manufacturing sites are improving and both
units are set for a very busy second half, with botanical extract and contract
manufacturing order books at record levels.

The appointment of Optima's founders - Steve Quinn and Fred Whitcomb - and
Health Perception's founder David Wilkie as directors has made a highly
effective executive Board. As I announced in August, Jacqueline Paterson
resigned as a non-executive director to take a year's sabbatical overseas. I am
grateful to her for her contribution to the development of the Group's
fast-growing consumer healthcare business. We are currently seeking an
additional non-executive director in her place.

Results

In the six months to 30 September 2005, Group profit before tax, amortisation of
goodwill and exceptional items, but after interest and integration costs, rose
to 1.3m (2004: 0.8m). Operating profit was slightly lower at 0.4m (2004:
0.5m), after charging 0.6m of exceptional costs relating to low throughput as
the new plants came on line. Basic loss per share was 0.13p (2004: earnings of
1.15p) and excluding exceptional items the earnings were 0.57p (2004: 0.79p).
Group sales increased by 38%, to 13.4m (2004: 10.9m), of which Optima
contributed three months' sales totalling 3.7m following its acquisition by the
company in June. The Board has declared an unchanged dividend of 0.50p per
share, payable on 11 January 2006 to all shareholders on the register on 16
December 2005.

Operating Review

Following its acquisition in June, integration of the Optima business was a key
operational priority which gave rise to approximately 0.2m of additional
one-off costs. The Group's UK consumer sales and marketing activities, exports
and new product development functions have already been integrated. In the UK,
we now have one of the largest dedicated natural healthcare product sales forces
of 25 sales professionals, with teams covering national accounts (grocery,
wholesalers and multiple chemists), independent pharmacy and independent health
food retailers. The cross-selling opportunities, distribution capability and
market knowledge which this provides in the natural healthcare market is very
powerful and should benefit our UK consumer product portfolio in the second
half. Similarly, the combination of the Group's consumer export activities
offers further good cross-selling potential which we have already begun to
exploit.

Optima's early performance, before the benefits of integration and a strong new
product introduction pipeline which are expected to accrue, is promising, with
sales rising by 6% to 3.7m for the three months since June compared with the
comparable three months last year. Health Perception continued its good sales
growth, with sales rising on a like-for-like basis by approximately 14% to
3.9m, again before the expected integration benefits. The balance of the
consumer brands grew by 9% to 2.7m due to very strong performances again from
Metanium and Radian B export.

Manufacturing throughput at the new production facilities did not reach target
levels in the first six months, but is scheduled to do so in the second half,
now that the new plant and equipment is bedded in and operators are becoming
more familiar with it. Sales for the combined areas in the first six months were
3.3m compared with 4.6m for the same period last year. Exceptional operating
costs resulting from the low throughput as the new plants came on stream fully
amounted to 0.6m. Current pharmaceutical manufacturing and packaging volumes
are at their highest levels since the relocations. For the second half, orders
for both botanical extracts and for contract manufactured pharmaceuticals are
also at record levels, in part due to the carry-over of orders unfulfilled in
the first half, but also driven by our success in winning major new business
based on the new facilities.

Financial Review

Gross margins in the group improved again from 36% to 40%, reflecting
principally the greater emphasis of the business on branded consumer healthcare
products following the acquisition of Optima. In continuing operations, gross
margin also rose, by two percentage points, from 36% to 38%, despite exceptional
operating costs of 607k. Selling costs in continuing operations rose by 436k,
reflecting increased advertising within Health Perception and increased
distribution costs to our export markets.

There was a net cash outflow from operating activities of 418k. Stocks rose by
346k within Optima due in part to new product launches and also to the
tremendous success of our manuka honey products. These are sourced from New
Zealand and are seasonal, which results in a long supply chain and high stocks
at certain times. Debtors increased by 915k, reflecting the higher export sales
and the higher level of sales from continuing operations compared to the second
half of last year. Creditors fell by 332k, partly due to tax payments on
account of 121k which were not required in previous years.

The acquisition of Optima in June 2005 resulted in a cash outflow of 13.3m. To
finance the purchase, the Company drew down a further 5.0m senior term loan and
issued 25 million new shares in a Vendor Placing to raise an additional 10.0m.

Outlook

The consumer healthcare business has grown well in the first half and we expect
it to continue to do so both in the UK and overseas in the second six months. It
should benefit additionally from a full six months of an integrated sales and
marketing team with all of the cross-selling, market knowledge and distribution
advantages which that brings. The announcement this week at the American College
of Rheumatology of the details of the extremely positive results of the US
government-funded ("GAIT") clinical trials of the effect of glucosamine on
arthritic pain relief may also further promote sales of Health Perception, which
has a leading position in the UK glucosamine market. Botanical extracts and
contract manufacturing which, combined, now account for only a quarter of the
Group's sales, are expected to improve considerably in the second half due to an
anticipated high level of throughput and record order book levels. Achievement
of the Group's target financial results for the year is dependent on maintaining
the required higher level of output at the new facilities to meet this demand.

We have built a good portfolio of consumer healthcare brands, supported by
strong distribution, manufacturing and technical capabilities in a natural
healthcare market which we believe is set to continue to grow with an ageing
population which increasingly self-medicates using natural products. Organic
growth in the medium term should therefore be good, and can be complemented in a
fragmented market by appropriate acquisition opportunities, which we continue to
seek. We are well on track in the implementation of our strategic objective, set
out five years ago, to transform the Group into a dynamic, market-leading
natural healthcare company.

Timothy Dye
Chairman and Chief Executive

Group Profit and Loss Account
For the six months ended 30 September

For the
Current year
Continuing year Total ended
operations acquisitions Group 31 March
2005 2005 2005 2004 2005
'000 '000 '000 '000 '000

Turnover 9,715 3,711 13,426 10,893 19,771

Cost of sales (5,392) (2,024) (7,416) (6,974) (12,092)
Exceptional
Cost
of Sales (607) - (607) - -
---------------- ----------------- -------------- -------------- ---------------
Total Cost of sales (5,999) (2,024) (8,023) (6,974) (12,092)
---------------- ----------------- -------------- -------------- ---------------
---------------- ----------------- -------------- -------------- ---------------

Gross profit 3,716 1,687 5,403 3,919 7,679

Selling and
distribution (2,560) (242) (2,802) (2,124) (4,613)
costs
Administrative
expenses (1,259) (984) (2,243) (1,275) (3,065)
---------------- ----------------- -------------- -------------- ---------------

Operating profit (103) 461 358 520 1

Costs of
fundamental
reorganisation - - - (119) (98)
Profit on sale
of discontinued
operations 245 -
---------------- ----------------- -------------- -------------- ---------------

Profit / (loss)
after
exceptional items (103) 461 358 646 (97)

Net interest payable (177) (33) (114)
-------------- -------------- ---------------

Profit / (loss)
before
taxation 181 613 (211)

Tax on profit /
(loss)
on ordinary activities (261) (209) 53
-------------- -------------- ---------------

(Loss) / profit after
taxation (80) 404 (158)

Dividends on
equity
shares (908) (179) (536)
-------------- -------------- ---------------

Transfer (from)
/ to reserves (988) 225 (694)
============== ============== ===============


Earnings per share:
Basic (0.13p) 1.15p (0.46p)
Diluted (0.13p) 1.15p (0.46p)
Excluding exceptional items 0.57p 0.79p 0.79p

Balance Sheet

at 30 September at 31 March
2005 2004 2005
'000 '000 '000

Fixed assets
Intangible assets 30,387 12,026 11,703
Tangible assets 6,487 4,803 6,251
--------------- --------------- -----------------

36,874 16,829 17,954
--------------- --------------- -----------------
Current assets
Stocks 7,623 3,709 3,368
Debtors 6,907 4,011 2,967
Investments - 25 -
Cash at bank and in hand 105 2,011 229
--------------- --------------- -----------------

14,635 9,756 6,564

Creditors:
Amounts falling due
within one year (9,230) (5,867) (5,293)
--------------- --------------- -----------------

Net current assets 5,405 3,889 1,271
--------------- --------------- -----------------

Total assets less 42,279 20,718 19,225
current liabilities

Creditors:
Amounts falling due after more
than one year (5,671) (2,007) (1,514)

Provision for (281) (251) (218)
liabilities and charges
--------------- --------------- -----------------

Net assets 36,327 18,460 17,493
=============== =============== =================

Capital and reserves
Called up share capital 8,433 3,572 3,572
Share premium account 21,979 7,018 7,018
Profit and loss account 5,915 7,870 6,903
------------------ ------------------ ------------------

Equity shareholders' funds 36,327 18,460 17,493
================== ================== ==================

Cash Flow Statement

For the For the
six months year
ended ended
30 September 31 March
2005 2004 2005
'000 '000 '000

Net cash outflow / inflow from
operating activities (418) 995 1,888
--------------- -------------- ---------------
Returns on investment and servicing of finance
Interest received - 29 42
Interest paid (177) (61) (156)
--------------- -------------- ---------------

(177) (32) (114)
--------------- -------------- ---------------
Taxation received
UK corporation tax paid (247) (244) (242)
--------------- -------------- ---------------
Capital expenditure and financial
investment
Payments to acquire tangible (112) (1,850) (4,105)
fixed assets
Payments to acquire intangible - (45) -
assets
Receipts from sale of tangible - - 557
fixed assets
--------------- -------------- ---------------

(112) (1,895) (3,548)
--------------- -------------- ---------------

Acquisitions and disposals
Payments to acquire trade (23,077) - (58)
Purchase of subsidiary - (3,598) (8,018)
undertaking
(Overdraft) / cash balances (521) - 875
acquired
Reorganisation of the business - (869) (1,664)
Receipts from sale of trade - 290 -
--------------- -------------- ---------------

(23,598) (4,177) (8,865)
--------------- -------------- ---------------

Equity dividends paid - - (536)
--------------- -------------- ---------------

Cashflow before use of liquid (24,552) (5,353) (11,417)
resources
--------------- -------------- ---------------

Management of liquid resources
Decrease in liquid resources - 3,000 3,000
--------------- -------------- ---------------

Financing
Proceeds from new bank loans 4,900 2,000 1,984
Issue of ordinary share capital 20,390 250 3,749
Issue expenses for shares (568) (73) (73)
Repayment of bank loans (250) - -
--------------- -------------- ---------------

24,472 2,177 5,660
--------------- -------------- ---------------

(Decrease) in cash (80) (176) (2,757)
=============== ============== ===============

Notes on the financial statements for the six months ended 30 September 2005

1. Basic earnings per share are based on the profit on ordinary activities
after taxation and on 60,692,397 shares (2004: 35,047,706 shares), the weighted
average number of shares in issue during the period. The diluted earnings per
share are the same as the basic earnings per share.

2. The results for the six months ended 30 September 2005 and 30 September
2004 are unaudited. They have been prepared on the basis of accounting policies
expected to be adopted for the year ended 31 March 2006. The figures for the
year ended 31 March 2005 have been extracted from the full accounts for that
year which have been delivered to the Registrar of Companies and on which the
auditors have given an unqualified report.

3. Exceptional cost of sales resulted from lower than planned recoveries as
manufacturing output fell below anticipated levels due to the new plant taking
longer than expected to reach full production levels.

4. Acquisition of Optima Healthcare Limited and Optima Health (Ireland)
Limited
On 29 June 2005 the Company acquired the entire share capital of Optima
Healthcare Limited and Optima Health (Ireland) Limited. On the same day the
trade, assets and liabilities of Optima Healthcare Limited were transferred to
the Company. The consideration was paid as 12,109,903 in cash, 500,000
deferred consideration and 10,390,097 in ordinary shares of the Company. To
assist in financing the acquisition, a total of 25,000,000 shares were placed by
Numis Securities Ltd with several UK institutional investors for a consideration
of 10,000,000 net of expenses. The assets and liabilities at acquisition were:

Optima Optima
Healthcare Health
Ltd (Ireland) Ltd Total
'000 '000 '000

Tangible fixed assets 371 18 389
--- --- ---
Stock 3,909 - 3,909
Debtors 2,886 139 3,025
Cash - 81 81
----------------- ----------------- -----------------
Total current assets 6,795 220 7,015

Creditors:
amounts falling due within (2,858) (173) (3,031)
one year
----------------- ----------------- -----------------
Net current assets 3,937 47 3,984
----------------- ----------------- -----------------
Total assets less current 4,308 65 4,373
liabilities

Provision for liabilities (32) - (32)
and charges
----------------- ----------------- -----------------
Net Assets 4,276 65 4,341

Positive goodwill 19,201 35 19,236
----------------- ----------------- -----------------

23,477 100 23,577
----------------- ----------------- -----------------

Cash consideration paid 12,110 - 12,110
Deferred cash 500 - 500
consideration
Shares issued 10,290 100 10,390
Costs arising on 577 - 577
acquisition
----------------- ----------------- -----------------

23,477 100 23,577
----------------- ----------------- -----------------

5. Reconciliation of operating profit / (loss) with net cash inflow from
operating activities:

For the For the
six months year
ended ended
30 September 31 March
2005 2004 2005
'000 '000 '000

Operating profit 358 520 1
Depreciation 265 259 595
Amortisation and impairment of 552 312 660
intangibles
Loss / (profit) on sale of - - (15)
tangible fixed assets
(Increase) / decrease in stocks (346) 162 444
(Increase) / decrease in debtors (915) (157) 436
Decrease in creditors (332) (101) (233)
-------------- -------------- ---------------

(418) 995 1,888
============== ============== ===============

6. Reconciliation of net cash flow to movement in net debt:

For the For the
six months year
ended ended
30 September 31 March
2005 2004 2005
'000 '000 '000

Decrease in cash (80) (176) (2,757)
New finance leases and higher
purchase contracts - - 1
Cash inflow from decrease in - (3,000) (3,000)
liquid resources
Cash inflow from increase in (4,615) (2,000) (1,984)
net debt
--------------- ------------- ------------------
Change in net debt resulting (4,695) (5,176) (7,740)
from cash flows
Opening net (debt) / funds (2,609) 5,187 5,187
Net debt acquired - - (56)
--------------- ------------- ------------------

Closing net (debt) / funds (7,304) 11 (2,609)
=============== ============= ==================

Represented by:

Cash at bank and in hand 105 2,011 229
Bank overdraft (755) - (799)
--------------- ------------- ------------------
(650) 2,011 (570)
Debt within one year (983) (250) (525)
Debt after one year (5,671) (1,750) (1,514)
--------------- ------------- ------------------

Closing net (debt) / funds (7,304) 11 (2,609)
=============== ============= ==================

7. Copies of this interim report are being sent to shareholders. Further
copies can be obtained from the Company's registered office at Alexander House,
40a Wilbury Way, Hitchin, Hertfordshire, SG4 0AP.



This information is provided by RNS
The company news service from the London Stock Exchange


Mega looks oK to me, about what was expected considering everything... Order book a bonus though!!

This goes Ex-Dividend tomorrow

ive just bought into rnsm because they look an attractive takeover possibility
maybe bodyshop would fit the bill!
any comments?

Nidefarm - Why do you think that? Personally can't see why Bodyshop would be interested in Ransom unless they are looking for expansion into different market sectors!!

seems they are both into natural health and cleanliness inside and out would be catchy!

This is true and yes I agree sounds catchy!! However they could also aquire Champneys Health Resorts and promote the body shop in luxury settings..

brilliant pre close statement, can see 50pence plus very shortly.