18th Mar 2026 11:11
(Alliance News) - Ramsdens Holdings PLC on Wednesday said a high gold price boosted its performance as it believes the yellow metal could remain elevated throughout the second half of its current financial year.
The Stockton on Tees, England-based financial services provider and pawnbroker said the average gold price for the year to date is about 50% higher than a year ago. This is contributing to an increased weight of gold purchased, as jewellery retail revenue is up 25% on-year.
Pawnbroking lending was "at record levels" in February as positive momentum continued into March. Ramsdens added that the loan book is now about GBP13.5 million, up about 18% from GBP11.4 million at the end of September, when its last financial year ended.
It added that its new stories in Wakefield, Hull and Sheerness have traded well since opening as it remains on track to open between eight and 12 new stories in financial 2026.
The company expects financial 2026 pretax profit to be between GBP24 million and GBP26 million, which it said is ahead of market expectations of GBP21.1 million. It would be between 48% and 60% higher than GBP16.2 million in financial 2025. Ramsdens added that "if the favourable gold price and trading conditions continue," pretax profit could be up to GBP28 million.
Chief Executive Officer Peter Kenyon said: "Ramsdens continues to perform well across its diversified business model reflecting the strength of our trusted brand, value for money proposition and outstanding team. In addition to underlying progress across the business, we continue to benefit from the high gold price, which is significantly boosting both customer demand and profits within our purchase of precious metals segment."
Ramsdens said that the current situation in the Middle East may have an impact for international travel. However it added that its primary foreign currency activity is selling euros to customers holidaying in Europe, "which currently appears to be stable."
The company expects to publish its half-year results for the six months to March 31 in early June.
Ramsdens shares jumped 10% to 400.00 pence each on Wednesday morning in London. Its shares are 86% higher than a year ago.
By Tom Budszus, Alliance News slot editor
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