Ramsdens Holdings PLC (AIM:RFX) shares were firmer in early trading after the pawnbroker and foreign currency group said its first-half performance had been ahead of expectations.
In a pre-close update, it said gross profit jumped by more than 20% year-on-year in the six months ended March 31, while predicted pre-tax profit for the year to September 30 2023 would be at least £9.5mln, up around 14% on 2022’s outcome.
Jewellery sales, foreign exchange and the pawnbroking book grew by 20%, 40% and 13% respectively.
Liberum is a fan: "We see Ramsdens as offering an attractive blend of growth and income with plenty more upside potential."
The broker repeated its 'buy' recommendation while increasing its price target 20p a share to 280p.
The stock, up a third in value in the last year, advanced 9.45p to 226.95p in the first hour of trade.