REG - Ramsdens Holdings - Trading Update

Ramsdens HoldingsAnnouncement

08/04/2022 07:00

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RNS Number : 7208H  Ramsdens Holdings PLC  08 April 2022

8 April 2022

Ramsdens Holdings PLC

("Ramsdens" or the "Group")

Trading Update

Strong momentum across all segments drives a profitable first half performance

 

Ramsdens Holdings PLC, the diversified financial services provider and
retailer, announces a trading update for the interim period ended 31 March
2022 (the "Period").

During the Period, Ramsdens delivered a strong performance across each of its
four segments. As a result of this, the Group expects to report H1 profit
before tax of approximately £2m.

Highlights

 -  Foreign currency volumes continued to recover in line with the easing of
    international travel requirements and restrictions with margins being
    maintained through the Period.
 -  Jewellery retail revenue has grown by more than 50% year on year, driven by
    strategic investments in stock and improved merchandising.
 -  The pawnbroking loan book continues to recover and as at 31 March 2022 was
    £7.5m (March 2021: £5.7m), reflecting the normalisation of customer spending
    habits and the growing need for short-term finance.
 -  Precious metal buying volumes increased, with March volumes returning to
    pre-pandemic levels, aided by the high gold price.

 

Peter Kenyon, CEO of Ramsdens commented:

"We are pleased with the Group's very strong performance during the Period,
the first half of a financial year marked by the continued easing of
restrictions and consumers' transition to normality.

Whilst being mindful of the impact of current macroeconomic events and
well-publicised inflationary pressures, the Board is encouraged by the growing
demand for Ramsdens' services and believes that the strong momentum reported
today will continue over the coming months. Demand for Ramsdens' foreign
currency services in particular is expected to grow significantly as more
people travel abroad this summer, and we are confident that the Group's
ongoing strategic investment in its jewellery proposition will continue to
deliver strong results both in store and online.

We have rewarded our staff with pay rises in excess of inflation, and I would
also like to take this opportunity to publicly thank them for their dedication
both to the business and to our customers over the last two challenging years.

We remain on track to open eight new stores in this financial year, and
underpinned by our diversified model and well-invested proposition, look
forward with confidence to the key summer trading period ahead."

The Board expects to release its Interim Report on 8 June 2022.

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014.

 

Enquiries:

Ramsdens Holdings PLC
 
Tel: +44 (0) 1642 579957

Peter Kenyon, CEO

Martin Clyburn, CFO

 

Liberum Capital Limited (Nominated Adviser)              Tel: +44 (0)
20 3100 2000

Richard Crawley

Lauren Kettle

 

Hudson Sandler (Financial PR)
                                         Tel:
+44 (0) 20 7796 4133

Alex Brennan

Lucy Wollam

 

About Ramsdens

Ramsdens is a growing, diversified, financial services provider and retailer,
operating in the four core business segments of foreign currency exchange,
pawnbroking loans, precious metals buying and selling and retailing of second
hand and new jewellery.  Ramsdens does not offer unsecured high cost short
term credit.

 

Headquartered in Middlesbrough, the Group operates from 157 stores within the
UK (including 3 franchised stores) and has a growing online presence.

 

Ramsdens is fully FCA authorised for its pawnbroking and credit broking
activities.

 

www.ramsdensplc.com (http://www.ramsdensplc.com)

www.ramsdensforcash.co.uk (http://www.ramsdensforcash.co.uk)
 

 

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