Ramsdens in line following Instant Cash Loans acquisition

(Sharecast News) - Pawnbroker Ramsdens continued to trade well and in line with the board's initial expectations for the past 12 months.Ramsdens told investors on Thursday that its solid performance was a result of the group's diversified business model, with growth across its four key income streams - foreign currency, pawnbroking, jewellery retailing and the purchase of precious metals.Elsewhere, the AIM-listed outfit, which acquired 18 stores and five loan books from Instant Cash Loans, said the initial integration of the stores had been successful and that it expects the acquisition to further expand the reach of the Ramsdens brand in the fragmented UK marketplace.Looking forward, Ramsdens stated it continued to have confidence that it would make further progress on its strategic objectives in the forthcoming year.Chief executive Peter Kenyon said: "This has been another good year for Ramsdens, reflecting the strengths of our trusted brand and diversified business model."Our business has been tested in a challenging retail environment, an exceptional hot summer in the UK and a continued backdrop of Brexit uncertainty, and I am delighted to report that we have achieved our targets despite these challenges."As of 1130 BST, Ramsdens shares had picked up 1.56% to 181.80p.