Record gold prices have enabled pawnbroker Ramsdens Holdings PLC (AIM:RFX) to make a record profit and express optimism about further progress in the new financial year.
In a short pre-close trading update, the company reported a £11 million profit before tax in the year ending 30 September.
Chief executive Peter Kenyon said: “All key income streams are growing and we have optimism for further progress in FY25.
"This performance once again demonstrates the strength of our diversified business model which underpins our long-term growth strategy."
Ramsden increased its guidance in August due to a surge in precious metal buying revenue on the back of record gold prices.
Some analysts predict gold prices will hit US$3,000 per ounce for the first time ever in 2025, from around US$2,600 currently, having retreated from an all-time high above US$2,700 in September.
Ramsden’s full results are due on 14 January 2025.