Ramsdens interim profit more than doubles amid gleaming gold price

(Alliance News) - Ramsdens Holdings PLC on Wednesday said it continued to benefit "from a highly trusted brand" as it reported a surge in interim pretax profit and revenue.

The Stockton-on-Tees, England-based financial services provider and pawnbroker reported record revenue of GBP83.7 million for the six months to March 31, up 62% from GBP51.6 million a year earlier, while pretax profit more than doubled to GBP16.7 million from GBP6.1 million, exceeding its full-year financial 2025 profit of GBP16.2 million.

The company noted strong demand for precious metals, supported by elevated gold prices, driving a surge in gross profit, which surged to GBP17.5 million from GBP7.6 million, while jewellery and pawnbroking also delivered growth.

Ramsdens said in the first financial half, the average 9 carat gold price was GBP40.63, up 55% from GBP26.22 a year prior.

The firm said: "The group continues to benefit from a highly trusted brand, engaged and skilled team, and diversified income streams that have repeatedly proven Ramsdens ability to adapt positively irrespective of the prevailing economic conditions."

The company raised its total interim dividend by 80% to 9.0p per share from 5.0p, including a 3.0p special dividend, compared to a special dividend of 0.5p a year prior.

Further, Ramsdens upgraded its financial 2026 pretax profit guidance to between GBP30 million and GBP33 million, ahead of market expectations, and up sharply from GBP16.2 million in financial 2025. Back in January, the company had said that it expected financial 2026 pretax profit to exceed GBP18 million.

The company said: "Many economists are predicting that the gold price will remain elevated for the remainder of 2026 and all through 2027. In addition, the Middle East situation continues to evolve and may impact international travel and, in turn, our sales of foreign currency going forward. The board continues to budget and plan our way forward cautiously."

Chief Executive Officer Peter Kenyon said: "The strong profits we are generating are funding the growth in our working capital assets and an accelerated new store opening program, as well as rewarding shareholders with an increased dividend.

"Whilst the economic backdrop remains challenging with increasing employment costs, high interest rates and continued inflation, we remain highly confident in our opportunity to further strengthen the performance of our existing stores while adding new locations, executing against our established long-term growth strategy. Our balance sheet remains strong and our high level of cash generation provides options on how we allocate our capital to achieve growth."

Ramsdens shares rose 7.0% to 489.28 pence each on Wednesday afternoon in London.

By Tom Budszus, Alliance News slot editor

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