Ramsdens Holdings PLC Trading Update
08 Abril 2022 - 01:01AM
UK Regulatory (RNS & others)
TIDMRFX
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 GBP2m.
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 GBP7.5m (March 2021: GBP5.7m), 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
www.ramsdensforcash.co.uk
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END
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(END) Dow Jones Newswires
April 08, 2022 02:01 ET (06:01 GMT)
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