Pre-Close Trading Update

RNS Number : 7662C

Ramsdens Holdings PLC

03 October 2018

 

Ramsdens Holdings PLC

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

Pre-Close Trading Update

Ramsdens Holdings PLC, the diversified financial services provider and retailer, is pleased to announce a pre-close trading update covering the six months ended 30^th September 2018 (the "Period").

Ramsdens has continued to perform well during the first six months of the financial year and the Group's profits for the Period are expected to be in line with the Board's expectations.

The key components of the results are:

·      the continued momentum of the jewellery retail business that has delivered double-digit sales growth,

·      good performances from the pawnbroking, other financial services and precious metal buying segments,

·      revenue from the foreign exchange segment was adversely affected by the reduction in foreign travel arising out of a 'staycation' summer due to the exceptional weather in the UK. In addition, as anticipated, the Period did not include Easter which benefited the comparative period, and

·      the four stores opened in the last financial year and the five stores opened in the Period, are overall trading ahead of expectations.

The Group will announce its Interim Results for the six months ended 30^th September 2018 on Wednesday 28^th November 2018.

Peter Kenyon, CEO of Ramsdens commented:

"The Group has delivered a good performance in the first half of the year which reflects the strength of our customer offer and the diversification of our income streams. The competitiveness of our foreign exchange proposition was demonstrated by a resilient performance despite market headwinds and our jewellery business continued to achieve strong growth.

We have continued to expand the estate and remain on track for our full year store opening target of 12 new stores. We are pleased with the Group's performance and continued momentum in the first half of the year and the Board remains confident of achieving its expectations for the full year."

Enquiries:

Ramsdens Holdings PLC	Via Hudson Sandler
Peter Kenyon, CEO Martin Clyburn, CFO
Liberum Capital Limited (Nomad)	Tel: [phone]
Richard Crawley Joshua Hughes
Hudson Sandler (public relations)	Tel: [phone]
Alex Brennan Lucy Wollam

This announcement contains inside information.

Cautionary statement regarding forward-looking statements

This announcement contains certain forward-looking statements. These forward-looking statements include matters that are not historical facts or are statements regarding the Group's intentions, beliefs or current expectations concerning, among other things, the Group's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Group operates.

Forward-looking statements are based on the information available to the Directors at the time of preparation of this announcement and will not be updated. The Directors can give no assurance that these expectations will prove to have been correct. Due to inherent uncertainties, including both economic and business risk factors underlying such forward-looking information, actual results may differ materially from those expressed or implied by these forward-looking statements.

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.

Headquartered in Middlesbrough, and from roots that can be traced back to the 1970s, the Group operates from 135 stores within the UK (including 4 franchised stores) and has a small but growing online presence.

In the last financial year, the Group served over 800,000 customers across its different services. Ramsdens is fully FCA authorised for its pawnbroking and credit broking activities.

https://www.ramsdensforcash.co.uk/

www.ramsdensplc.com

 

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