6 August 2024
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
Positive trading momentum
continues into second half
FY24 Profit Before Tax
expected to be at least £11m, which is ahead of
expectations
Ramsdens Holdings PLC, the
diversified financial services provider and retailer,
is pleased to provide the following trading update
for the current financial year to 30 September 2024.
Further to the Group's Interim
Results for the six months ended 31 March 2024 (announced on the 5
June 2024), the Group's good trading momentum has continued into
the second half of the financial year to date. This positive
performance continues to reflect the strengths of the Group's
diversified income streams, the ongoing and successful investments
made in enhancing the customer proposition, and the high gold price
driving a better-than-expected performance in the Precious Metals
segment. As a result, the Board now expects FY24 Profit Before Tax
to be at least £11m, which is ahead of its previous expectations*
(FY23: Profit Before Tax of £10.1m).
Segmental Highlights
·
Precious metal buying revenue increased
significantly year-on-year, supported by the sustained high gold
price increasing customer demand for this service
·
The pawnbroking loan book grew incrementally,
performing in line with expectations
·
Foreign currency revenues are broadly in-line with
expectations. The Ramsdens Mastercard® Multi-Currency Card has
performed well since its launch in September 2023.
·
Jewellery retail revenues continued to perform
well reflecting the Group's successful investments in enhancing the
retail proposition, growth in the store estate and a recovery in
premium watch sales over recent months
Peter Kenyon, CEO of Ramsdens commented:
"Ramsdens' positive trading momentum has continued into the
second half of the year, once again reflecting the strengths of our
diversified model, trusted brand and the hard work and commitment
of our team.
"We continue to benefit from the ongoing investments made in
enhancing our multi-channel customer proposition, including our
online presence and new Multi-Currency Card, as well as the
sustained high gold price, which is encouraging greater awareness
and demand for our precious metals buying
services."
*Prior to this announcement analyst expectations for Profit
before Tax for FY24 were £10.5m.
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
Richard Lindley
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
www.ramsdensforcash.co.uk
www.ramsdensjewellery.co.uk
www.ramsdenscurrency.co.uk