Ramsdens Holdings PLC (AIM:RFX) shares moved up on Wednesday, rising 7.27% to 413p, after it upgraded full-year profit expectations for the second time in less than two months, as high gold prices and growth across its core divisions pushed first-half profit above last year’s full-year result.
The pawnbroker, foreign exchange provider and jewellery retailer said it now expects profit before tax for the year to 30 September 2026 to be at least £28.5 million, with potential upside to £31.5 million if the favourable gold price continues and summer currency volumes are in line with last year. That compares with prior market consensus of £24.1 million.
Ramsdens said its precious metals buying arm continued to benefit from historically elevated gold prices, with the gold price 50% ahead of last year for several weeks in the first half and currently around 40% ahead. The weight of gold purchased was also around 50% higher year-on-year.
Trading was also supported by jewellery retail revenue running about 25% ahead of last year, slightly improved gross margins, and continued demand for pawnbroking loans. The loan book has risen to approximately £14.1 million, up 24% from £11.4 million at the September year-end, after record new lending in March and April.
Foreign currency trading was more mixed, with total currency exchanged only marginally behind last year, but commission around 9% lower.
Ramsdens will report interim results for the six months to 31 March 2026 on 3 June.