Last checked at 11 Apr 2017 07:00
11th April 2017
Ramsdens Holdings PLC
("Ramsdens", "the Company", "the Group")
Pre-Close Trading Update
Ramsdens Holdings PLC, the diversified financial services provider and retailer, is pleased to announce a pre-close trading update covering the year ended 31 March 2017 (the "Period").
Ramsdens' strong performance has continued across the Group resulting in further revenue growth and strengthening gross profit when compared to the prior year. As a result, the Board anticipates reporting adjusted* profit before tax for the Period comfortably ahead of management's previous expectations.
The strong performance has been driven by continued growth across each of its four key income streams; foreign currency exchange, pawnbroking, precious metals purchasing and jewellery retail. The Group's growing momentum and strengthening reputation as a market leading foreign exchange brand has continued, resulting in revenue from this income stream being significantly ahead of the prior year.
The Group has continued to develop its store estate and currently has 127 stores, including three franchised stores. During the financial year Ramsdens closed one store, relocated one store and, in December 2016, acquired four stores from a competitor. The Group continues to see an opportunity to expand the store estate with, as previously announced, approximately 12 store openings planned during the forthcoming year.
Peter Kenyon, CEO of Ramsdens commented:
"We are delighted to update our shareholders on a transformational year for Ramsdens, which included our successful IPO completed on 15th February.
The Group's strong operational momentum has continued post IPO resulting in the Board anticipating reporting Adjusted PBT comfortably ahead of its previous expectations.
We have a trusted and recognised brand, a leading store portfolio, an exceptional team and a diversified offering. We look forward to further updating our stakeholders with our Full Year results in June."
*adjusted profit before tax represents profit before tax before IPO related costs.
Enquiries:
Ramsdens Holdings PLC | Via Hudson Sandler |
Peter Kenyon, CEO Martin Clyburn, CFO | |
Liberum Capital Limited (Nomad) | Tel: +44 (0) 20 3100 2000 |
Richard Crawley Joshua Hughes Robert Johnson | |
Hudson Sandler | Tel: +44 (0) 20 7796 4133 |
Alex Brennan
|
This announcement contains inside information.
Cautionary statement regarding forward-looking statements
This announcement contains certain forward-looking statements. These forward-looking statements include matters that are not historical facts or are statements regarding the Group's intentions, beliefs or current expectations concerning, among other things, the Group's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Group operates.
Forward-looking statements are based on the information available to the Directors at the time of preparation of this announcement, and will not be updated. The Directors can give no assurance that these expectations will prove to have been correct. Due to inherent uncertainties, including both economic and business risk factors underlying such forward looking information, actual results may differ materially from those expressed or implied by these forward-looking statements.
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, and from roots that can be traced back to the 1970s, the Group operates from 127 stores within the UK (including 3 franchised stores) and has a small but growing online presence.
In the last financial year, the Group served over 700,000 customers across its different services. Ramsdens is fully FCA authorised for its pawnbroking and credit broking activities.
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