Ramsden Holdings boosted by FX and jewellery sales
Ramsdens also took advantage of a rising gold price to bank £600,000 through the scrapping of old jewellery stock.
Company
LON:RFX
Ramsdens is a financial services provider and retailer, operating in the core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. Ramsdens offers its products and services from a network of 127 stores across the UK, including 3 franchised stores, and has a small and growing online presence. In the last financial year, the Group served over 700,000 customers across its different services. Ramsdens is fully FCA authorised for its pawnbroking services.
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Ramsdens also took advantage of a rising gold price to bank £600,000 through the scrapping of old jewellery stock.
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The AIM-listed pawnbroker said the purchase would also include the pawnbroking loan books of all 18 stores as well as from five other stores that are set to close
For the six months to September 30, the AIM-listed firm’s pre-tax profit slipped by 3.8% to £5.0mln, down from £5.2mln a year earlier although revenue rose by 9.6% to £23.9mln
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Ramsdens saw overall pre-tax profits jump 63% to £5.2mln on higher revenues of £21.8mln, in the first six months of its year
The pawnbroker and financial services provider – which listed on AIM in February – said “strong foreign exchange results in the early summer months gained additional momentum through the traditional peak period of July and August"
The recently-listed pawnbroker and financial services firm said regulatory authorities had been notified of the unauthorised access to its IT systems, and added that the company was working with third-party experts to take all appropriate a
The group – which is the shirt sponsor for relegated Premier League football team, Middlesbrough FC - reported pretax profits of £2.9mln for the year to March 31
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