Good morning all,

Time for a quick public service announcement.

David has informed me that there are still a few tickets remaining for the Mello South conference which is taking place exactly one week from today (on Thursday, 14th June) in Hever, Kent.

Among the speakers will be Leon Boros, David Stredder and fund managers Mark Slater and Andy Brough. I will be there too, live-blogging the SCVR. And of course there will be a wide variety of quality companies for you to speak with.

It promises to be another hugely interesting Mello Event, this time in the south of England and for one day only. I recommend grabbing the last few tickets. Here's the link.




Ok, time for some analysis.

Today we had interesting announcements from:

Ramsdens Holdings (LON:RFX)

Veltyco (LON:VLTY)

CMC Markets (LON:CMCX)

Plus500 (LON:PLUS)

Inland Homes (LON:INL)



Ramsdens Holdings (LON:RFX)

(Formatting is broken, so I can't put the share price here - apologies.)

Great headline numbers from this diversified financial services provider, headquartered in Middlesbrough:

5b190eaf75868RFX_20180607.PNG


Foreign exchange is leading the way and profitability per customer has improved, so I'm guessing that people are using Ramsdens more frequently or for larger transactions - a great sign of customer satisfaction.

Margins in this segment have also improved (and it just goes to show how uncompetitive banks are at doing this, that a company can steal their market share so profitably.)

The number of FX customers is up 13%, but FX revenues are up 26%.

(As an aside, it might be worth noting that the vast majority - 86% - of Ramsdens' total customers are using the FX service. It's inevitably a lower-margin activity than pawnbroking and precious metal dealing.)

As with H & T (LON:HAT), the pawnbroker in which I hold shares, Ramsdens is also doing very well in jewellery. Sales in that segment are up 35% to £8 million. Up until a few years…

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