(Alliance News) - Ramsdens Holdings PLC on Monday said its half-year results are expected to show an improvement compared with the prior year as the company benefited from a surge in the gold price.
The financial services provider said it has continued to trade well during the six months ended September 30. Therefore Ramsdens said profit is expected to come in line with forecasts, reflecting the strength of its business model and diversified income streams.
In addition, Ramsdens said it took the decision to scrap some of its slower-moving jewellery stock to take advantage of a relatively high gold price.
As a result, the company said it expects to report an additional, non-recurring gross profit of GBP600,000 in its first half results.
"The board remains confident that the group will continue to successfully deliver its strategic objectives and make further progress during the second half of the year," said Chief Executive Peter Kenyon.
Ramsdens will announce its interim results on December 3, it said.
The stock was trading 1.3% higher on Monday in London at 196.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Ramsdens Hldgs (RFX)