Last checked at 7 Oct 2019 07:00
07 October 2019
Ramsdens Holdings PLC
("Ramsdens", "the Company", "the Group")
Pre-Close Trading Update
Ramsdens is pleased to announce that it has continued to trade well and that the Group's profit performance has been in line with the Board's expectations during the six months ended 30 September 2019. This outcome again reflects the strength of the Group's business model and diversified income streams.
In addition to this good trading performance, during the first half, Ramsdens' management took the decision to scrap some of the Group's slower-moving jewellery stock to take advantage of a relatively high gold price. As a result, the Group will report an additional, non-recurring gross profit of approximately £600,000 in its first half results.
The Group will announce its Interim Results for the six months ended 30 September 2019 on 3 December 2019.
Peter Kenyon, CEO of Ramsdens commented:
"The Group has delivered a good performance in the first half of the year. Once again this reflects the strength of the Group's diversified income streams which continue to offer resilience in what remains a challenging consumer environment.
The stores acquired from The Money Shop have performed well and the Board continues to appraise acquisition opportunities in this highly fragmented market. The widely publicised recent collapse of one of the Group's largest competitors has again highlighted the importance of our outstanding and highly-trusted customer proposition.
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."
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
Joshua Hughes
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.
Headquartered in Middlesbrough, the Group operates from 162 stores within the UK (including 4 franchised stores) and has a small but growing online presence.
During the FY19 financial year, the Group served over 830,000 customers across its different services. Ramsdens is fully FCA authorised for its pawnbroking and credit broking activities.
www.ramsdensplc.com
www.ramsdensforcash.co.uk