Ramsdens says higher gold prices to send profit above expectations
Ramsdens Holdings PLC on Tuesday said it expects full-year pretax profit to beat current market expectations as the firm continues to benefit from the high gold price.
The Stockton on Tees, England-based financial services provider and pawnbroker said it now expects pretax profit for the financial year to the end of September 2026 to be more than £21 million, up by at least 30% from £16.2 million in financial 2025.
Prior to this announcement, the firm put market expectations for financial 2026 pretax profit at £18.6 million.
Ramsdens said it continues to benefit from the high gold price, with profit from the purchase of the precious metals segment ‘significantly’ ahead of expectations.
Jewellery retail ‘continues to perform strongly’ both in store and online, the firm added. Ramsdens said it has maintained momentum across its pawnbroking income stream, with lending at ‘record’ levels in January.
Foreign currency trading has continued in line with the first quarter, it said. Volumes are flat on-year.
‘We’re making good progress in expanding our estate and are on track to open between eight and 12 new stores this year. Whilst there remain uncertainties in the wider macroeconomic backdrop, our diversified business model and strong foundations give the board every confidence in Ramsdens’ opportunities to continue to grow and deliver for all stakeholders,’ said Chief Executive Peter Kenyon.
Shares in Ramsdens were up 8.2% at 438.35 pence on Tuesday morning in London.
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