Trading Update

Ramsdens Holdings PLC

16 July 2026

 

16 July 2026

Ramsdens Holdings PLC

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

Trading Update

Further upgrade to FY26 profit as strong performance continues

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").

On 23 June 2026, Ramsdens and Chess Bidco Limited ("Bidco") announced that they had agreed the terms of a recommended cash acquisition by Bidco, an indirect wholly-owned subsidiary of FirstCash Holdings, Inc. to acquire the entire issued and to be issued share capital of Ramsdens (the "Acquisition") (the "Acquisition Announcement"). The Acquisition will be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").

At the time of publication of the Acquisition Announcement, the Board confirmed that their previous trading update, published on 3 June 2026, remained valid in terms of Rule 28 of the Takeover Code ("Code").

The Board's belief at that time was that the profit before tax for FY26 was to be in the region of £30m to £33m, consistent with the upgraded guidance issued at the Group's interim results on 3 June 2026.

As part of publishing the circular to be mailed to shareholders in relation to the Scheme, the Board are required to consider the profit forecast included in the Acquisition Announcement published on 23 June 2026. 

Having regard to the continued strong trading by the Group, and whilst taking into account recent volatility in the gold price, the Board now anticipates that profit before tax for FY26 will be between £32m and £35m.

Current trading highlights

·      While the gold price has fallen by more than 20% from its highest price in January 2026, it remains at elevated levels in comparison to 2025.  The weight of gold being purchased in recent weeks has fallen marginally against 2026 weekly run rate levels however due to the gold already purchased and in the process of being sold to our bullion dealers, the year-end out turn for the purchase of precious metals segment will be higher than previously anticipated.

·      Demand for pawnbroking loans has remained robust with June being another record month for new lending.  In the last six weeks since reporting the May 2026 loan book figure of £14.5m, the loan book has increased by c£1m to £15.5m.  The interest derived from this loan book growth will be ahead of the Board's previous expectations for this year and will also be positive into FY27.

·      Given the economic back drop, the jewellery retail segment continues to be resilient and is trading in line with the Board's expectations.

·      Scotland and England's participation in the World Cup has assisted June's foreign currency volumes.  While we still see some margin pressure from our efforts to grow the recurring income streams from the Ramsdens Mastercard® Multi Currency Card, we are pleased to report that card loads are 40% ahead 2026 over 2025.

Peter Kenyon, Chief Executive, commented:

"The foundations of the Group are strong.  We are continuing to trade well, maximising the opportunity of trading with a favourably high gold price but knowing that our diversified financial services are all contributing to the Group's ongoing success.  The investment in our new store opening program is going well.  Hereford and Skegness have recently opened, Newark and Peterborough are in shop fit and we have completed the lease formalities in Corby and St Helens with shop fitting to start shortly".

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 175 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

Important Notices

Profit Forecast

The foregoing statement in relation to the Group profit before tax constitutes a profit forecast for the purposes of Rule 28 of the Code (the "Profit Forecast").The Panel has confirmed that the Profit Forecast constitutes an ordinary course profit forecast for the purposes of Note 2(b) on Rule 28.1 of the Code and has granted a dispensation from the requirement to include reports from reporting accountants and Ramsdens' financial adviser in relation to the Profit Forecast, on the basis that Bidco has provided its consent to doing so, as contemplated by Note 2(b) on Rule 28.1. The requirements of Rule 28.1(c)(i) of the Code therefore apply.

Directors' confirmation

The Ramsdens Directors have considered the Profit Forecast and confirm that it remains valid as at the date of this announcement, and has been properly compiled on the basis of the assumptions set out below and that the basis of accounting used is consistent with Ramsdens' existing accounting policies.

Basis of preparation

The Profit Forecast is based on Ramsdens' current internal unaudited forecasts for FY26. The Profit Forecast has been compiled on the basis of the assumptions set out below. The basis of accounting used in the Profit Forecast is consistent with the existing accounting policies of Ramsdens in accordance with UK adopted international accounting standards.

Assumptions

The Profit Forecast has been prepared on the basis referred to above and subject to the principal assumptions set out below. The Profit Forecast is inherently uncertain and there can be no guarantee that any of the assumptions listed below will occur and/or if they do, their effect on Ramsdens' results of operations, financial condition or financial performance may be material.

The Profit Forecast should be read in this context and construed accordingly. The Ramsdens Directors have made the following assumptions in respect of FY26:

Assumptions within Ramsdens' control or influence:

·      no material change to the existing strategy or operation of Ramsdens' business;

·      no material change to Ramsdens' expected store opening programme in the current financial year;

·      no material deterioration in Ramsdens' relationships with its customers and no material adverse change to Ramsdens' ability to meet its customers' needs and expectations based on current practice;

·      no material unplanned capital expenditure, asset disposals, merger and acquisition or divestment activity conducted by or affecting Ramsdens, save for the current recommended offer for Ramsdens by Bidco; and

·      no material change in dividend or capital allocation policies of Ramsdens.

Assumptions outside of Ramsdens' control or influence:

·      no material change in the gold price between the date of this announcement and the end of FY26;

·      no material change to existing prevailing macroeconomic, political or fiscal/inflationary conditions or stability during FY26 in the markets or locations in which Ramsdens operates;

·      no material change in legislation, taxation or regulatory requirements impacting Ramsdens' operations, expenditure or its accounting policies;

·      no material adverse change to Ramsdens' market environment before the end of FY26 (including in relation to customer demand or competitive environment, including regarding Ramsdens' market share and demand for Ramsdens' product offering);

·      no material change in Ramsdens' existing debt arrangements or ability to access external finance and refinance existing debt upon maturity; and

·      no material litigation or regulatory investigations, and no material unexpected developments in any existing litigation or regulatory investigation, each in relation to any of Ramsdens' operations, products or services.

 

END