Ramsdens Holdings PLC reported Tuesday that its performance in the first half of the current financial year (2023) has exceeded its expectations and it anticipates a higher full-year pre-tax profit for the same period. This growth has been attributed to impressive showings across all of its business segments, with jewelry retail gross profit increasing by more than 20%, foreign currency exchange up by around 40%, Pawnbroking loan book growing 13% from its previous year-end balance and a purchase of precious metal volumes up more than 20%.
CEO Peter Kenyon commented on the results, stating that Ramsdens is focused on organic growth and is investing heavily in its online offering, as well as in expanding its store estate, for which there is a large potential of new stores. The company is anticipated to share its first half results on June 7th.
Established in 1987, Ramsdens Holdings PLC is a London-based provider of financial services and retail stores based in the United Kingdom and Ireland. Its comprehensive range of services includes foreign currency exchange, pawnbroking loans, gold-buying services, travel money and money transfer, as well as jewelry and goods retailing.
This article follows news of the recent appointment of Joe Hoppe as the Financial Director of Ramsdens. Joe has an impressive track record in the financial services industry and 20 years of experience in strategic planning and increasing shareholder value. His knowledge and experience in developing research and investment analysis capabilities, together with providing sound business advice, make him a valuable addition to the Ramsdens team.
