Westfield announces strong sales

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Westfield Health has reported sales growth of 29% increasing market share to 13.5%, in its annual results for 2010/11.

Jill Davies, chief executive at Westfield Health, said: "This has been an exceptional year for Westfield, with real progress made across the business despite many challenges including aggressive competitor activity, major upheaval in the NHS and, of course, the difficult economic climate."

The effects of the recession have however been felt with net growth dampened by leavers prompted by redundancies.

Davies said Westfield has been acutely aware of the difficult economic environment: "But organisations are continuing to recognise the importance of offering healthcare benefits to enhance their risk management capabilities and help improve staff morale and productivity.

"This has resulted in a tremendous increase of more than 76% in new corporate sales."

The provider reported total assets of over £83 million showing an increase of 13.7% over the previous year, and a significant operating surplus in all four quarters of the year, totalling £5.8 million.

Westfield's has made additional funds available to its charitable trust, taking its annual commitment to £1.2 million.

Jill explained: "Our long-standing support of the NHS and medically related charities is an important part of what makes Westfield so special."

 

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