Trading Update

Ramsdens Holdings PLC

18 March 2026

 

18 March 2026

Ramsdens Holdings PLC

("Ramsdens", the "Group", the "Company")

Trading Update

Strong performance continues; further upgrade to full year profit expectations

Ramsdens Holdings PLC, the growing, diversified financial services provider and retailer, is pleased to provide a further update on FY26 (year to 30 September 2026) trading to date (the "year to date").

Further to the Group's announcement on 10 February 2026, the Company has continued to perform well across its core income streams and has seen further benefit from the sustained, very high gold price compared to historic levels in its purchase of precious metals division. Based on the current geopolitical and economic climate, the Board believes that the gold price could remain elevated throughout the second half of FY26. This assumption means that profits within the precious metals division would be ahead of the Board's previous expectations for HY2, reflecting both the high gold price and increased purchase volumes.

Taking into account the strong trading for the first five months of the year, and the Board's updated expectations on the outlook for the gold price, the Group now expects its profit before tax for FY26 to be at least £24m* and, if the favourable gold price and trading conditions continue, potentially up to £28m.

Year to date highlights

●	The average gold price for the year to date is approximately 50% higher than prior year. The higher gold price is also contributing to an increased weight of gold purchased, which is also approximately 50% higher year on year.
●	Jewellery retail revenue is approximately 25% ahead year on year.
●	Pawnbroking lending was at record levels in February 2026, and positive momentum has continued into March. The loan book is now approximately £13.5m, an increase of 18% on the September year end position of £11.4m.
●	The total currency exchanged in the first five months of FY26 was in line with the comparable period in FY25, with foreign currency commissions approximately 5% lower year on year reflecting the continued migration towards online and currency card sales, which are lower margin. Whilst the current situation in the Middle East may have an impact for international travel, our primary foreign currency activity is selling Euros to customers holidaying in Europe which currently appears to be stable.
●	Our new stores in Wakefield, Hull and Sheerness have traded well since opening. The Group remains on track to open between eight and 12 new stores in FY26. We currently have three stores in shop fit and a further three stores expected to be in shop fit within the next few weeks.

Peter Kenyon, Chief Executive, commented:

"Ramsdens continues to perform well across its diversified business model reflecting the strength of our trusted brand, value for money proposition and outstanding team. In addition to underlying progress across the business, we continue to benefit from the high gold price, which is significantly boosting both customer demand and profits within our purchase of precious metals segment. As a result, we are once again trading ahead of market expectations* and currently anticipate profit before tax for FY26 to be in a range of £24m to £28m."

The Group expects to report its interim results for the six months ended 31 March 2026 in early June 2026.  

*Prior to this announcement, consensus market forecast for profit before tax for FY26 was £21.1m. 

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. The person responsible for making this announcement on behalf of the Company is Peter Kenyon.

ENDS

Enquiries:

Ramsdens Holdings PLC                                                                                        [phone]

Peter Kenyon, CEO

Martin Clyburn, CFO

Cavendish Capital Markets Limited (Nominated Adviser and Broker) Jonny Franklin-Adams / Marc Milmo / George Lawson (Corporate Finance)	[phone]
Hudson Sandler (Financial PR) Alex Brennan Emily Booker	[phone]

About Ramsdens

Ramsdens is a growing, diversified, financial services provider and retailer, operating in the four core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery. 

Ramsdens does not offer unsecured high-cost short term credit.

Headquartered on Teesside, the Group operates from 172 stores within the UK (including one franchised store) and has a growing online presence.

Ramsdens is fully FCA authorised for its pawnbroking, credit broking activities and as an authorised payments institution.

www.ramsdensplc.com
www.ramsdensjewellery.co.uk
www.ramsdenscurrency.co.uk
www.ramsdenspawnbrokers.co.uk
www.ramsdensgoldbuying.co.uk

 

END