Shares in Ramsdens Holdings PLC (AIM:RFX), not the fish and chip chain but the pawnbroker and currency services provider, jumped over 10% in early trading as it said it expects record profits for the past year to 30 September 2023.
The Middlesbrough-headquartered group said profit before tax is expected to top £10 million, compared to £8.4 million last time, helped by a record August for the pawnbroking businss.
Highlights included foreign currency revenue increasing 8%, jewellery retail sales up more than 20% thanks to strong momentum online and a 50% leap in revenue from precious metal buying "as consumer demand for realising value in unwanted or damaged jewellery increased in part as a result of the higher sterling gold price".
By the end of the year there was a 20% increase in the active pawnbroking loan book to a company record of £10.3 million, with eight new stores opened and one acquired.
The shares vaulted 12% to 214p in early trade before easing to 202p by mid-morning, a rise of 6%.