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Ramsdens Holdings PLC - pawnbroker - Says it has continued to trade profitably and maintained strong cash position in 18-month period as Covid-19 enforced closures of stores. For 18 months to September 30, revenue GBP76.9 million, up from GBP46.8 million in 12 months to March 31. Pretax profit in 18 months to September 30, GBP9.2 million from GBP6.5 million in 12 months to March-end. Says results were achieved against backdrop of considerable ongoing uncertainty, challenging trading conditions and continuing to receive government support to protect jobs. As such, board believes it is both prudent and in long-term interest of shareholders to retain cash resources to trade through this period and is not recommending a final dividend for the period. Announcnes 18 month earnings following the previously announced change of the group's accounting reference date from the end of March.
"As we move into 2021, a lot of uncertainties remain. However, there are promising signs in the form of a vaccine and - whatever the outcome is - we will have greater clarity regarding what Brexit means for consumers and businesses. Whilst the pandemic has had an unimaginable impact on communities and companies across the UK, we remain very confident that underpinned by our great value customer proposition, strong balance sheet and diversified model, we remain well positioned to continue our growth trajectory as normality resumes," said Chief Executive Peter Kenyon.
Current stock price: 138.50 pence
Year-to-date change: down 38%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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