Ramsdens Holdings PLC saw its shares rise some 9% in Tuesday's early trade, after it told investors that FY26 profits are now expected to come in ahead of market expectations, as the pawnbroking and FX retailer continues to benefit from strong demand for gold buying amid record prices.
The firm said profit before tax for the year to 30 September 2026 is expected to be more than £21 million, up from £16.2 million in FY25 and above the £18.6 million that the market had been expecting before Tuesday’s statement.
Management highlighted in particular its precious metals segment, where profits are “significantly ahead of expectations” as gold prices hit new highs and are around 20% higher than at the start of the financial year.
Beyond gold, Ramsdens said jewellery retail is performing strongly across stores and online, with its re-platformed jewellery website going live at the end of January.
Regular pawnbroking operations also kept up momentum, the company said, with lending reaching record levels in January, while foreign currency trading has continued in line with the first quarter despite a shift towards lower-margin click-and-collect and multi-currency card sales.
Ramsdens said store expansion remains on track, with new locations in Wakefield and Hull trading well and a pipeline supporting between eight and 12 openings in FY26.
Chief executive Peter Kenyon said the board expects profit before tax to be ahead of current market expectations, adding that the group’s diversified model leaves it well-placed to keep growing.
"Ramsdens' excellent value for money proposition continues to resonate strongly with consumers whether they're looking for new or used jewellery, seeking the best rates for money to take abroad, looking to secure a short-term asset backed loan, or wanting to get cash for their unwanted gold," he said.
In London, Ramsdens shares were up 38.49p or 9.49% changing hands at 443.45p.