Ramsdens Holdings PLC (AIM:RFX) reported strong growth in profit and revenue at the half-year stage, boosted by bumper growth in online jewellery sales.
Chief executive Peter Kenyon said: “This momentum puts us on course to deliver record profits for the group in the current financial year.”
The financial services provider and retailer said pre-tax profit in the six months to 31 March 2023 grew 68% to £3.7mln from £2.2mln with gross revenue up by 33% to £39.0mln from £29.3mln.
Jewellery retail revenue increased by 32% to £17.3mln from £13.1mln while online jewellery retail sales increased by 89% to £3.7mln from £2.0mln, representing 21% of total jewellery sold.
The pawnbroking loan book at the period end increased by 29% to £9.7mln while foreign currency gross profit increased by 41% to £4.9mln.
The interim dividend was boosted 22% to 3.3p per share and Ramsdens said the positive trading momentum has continued so far into the second half of the year.
Ramsdens expects to open six new stores in the second half of the financial year with a dedicated website for currency services set to launch in June 2023, strengthening the group's e-commerce proposition.