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.ramsdenscurrency.co.uk
www.ramsdenspawnbrokers.co.uk
www.ramsdensgoldbuying.co.uk
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.