REG - Ramsdens Holdings - Trading Update

Ramsdens HoldingsAnnouncement

08/04/2025 07:00

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RNS Number : 9987D  Ramsdens Holdings PLC  08 April 2025

8 April 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

 

 

Ramsdens Holdings PLC

 

("Ramsdens" or the "Group")

 

Trading Update

FY25 profit before tax ahead of expectations and expected to be at least
£13m, fuelled by growth across core income streams and the continued benefit
of the high gold price

 

The Board is pleased to provide an update on H1 FY25 trading (1 October 2024
to 31 March 2025).

The Group continues to benefit from its diversified model of financial and
retail services delivering growth across core income streams. As a result of
continued positive momentum in the first half of FY25, the Board now expects
FY25 profit before tax to be at least £13.0m (FY24: £11.4m), which is ahead
of previous expectations*.

Highlights

 ●    The purchase of precious metals segment has continued to perform very strongly
      with gross profit increasing 50% on H1 2024. This has been driven by the
      continued high gold price, coupled with a 5% increase in the weight of gold
      purchased. The Group launched its dedicated gold buying website in March 2025
      which is expected to increase awareness of this service and attract new
      customers.
 ●    Pawnbroking gross profit increased by 10% on the prior period, performing in
      line with our expectations. The investment in Ramsdens' new dedicated
      pawnbroking website, which launched in November 2024, is starting to attract
      new customers.
 ●    Jewellery retail gross profit for H1 increased 15% on the prior period, ahead
      of expectations. The scrapping of some aged stock has not hindered the
      excellent momentum achieved across this segment.
 ●    Foreign currency (FX) gross profit was in line with that achieved during H1
      2024.  However, Easter, a time where many customers go on holiday, is later
      in 2025.  The Ramsdens' multi-currency card continues to perform well and our
      International Money Transfer service is now live.
 ●    Our store estate remains at 169 including one franchised store. In the period,
      we opened new stores in Grantham and Burton both of which have started trading
      well, closed our kiosk site at Teesside Airport and merged two of our central
      Glasgow stores.

 

Peter Kenyon, CEO of Ramsdens commented:

"We are pleased to have delivered a strong performance during the first half
of the year, underpinned by our diversified model as well as benefitting from
investments made across our four operating segments, including the launch of
new dedicated customer websites and services.

This positive trading momentum, together with the continued benefit to the
Group presented by the sustained high gold price, has led the Board to
increase profit expectations for FY25.

We look forward to building on this positive performance throughout the second
half of the financial year."

 

*Prior to this announcement analyst expectations for profit before tax for
FY25 were £12.0m.

ENDS

 

 Enquiries:

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

Peter Kenyon, CEO

Martin Clyburn, CFO

 

Panmure Liberum (Nominated Adviser and Broker)      Tel: +44 (0) 20 3100
2000

Stephen Jones

Atholl Tweedie

Will King

 

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

Alex Brennan

Lucy Wollam-Coles

Emily Brooker

 

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 169 stores within the
UK (including one franchised store) and has a growing online presence.

 

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

 

www.ramsdensplc.com
(file:///C%3A/Users/alex/Dropbox%20(Hudson%20Sandler)/Clients/Ramsdens/Releases/Drafts/www.ramsdensplc.com)

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

www.ramsdenscurrency.co.uk (http://www.ramsdenscurrency.co.uk)
www.ramsdenspawnbrokers.co.uk (http://www.ramsdenspawnbrokers.co.uk)

www.ramsdensgoldbuying.co.uk

 

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