Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Ramsdens reports robust trading in year-to-date
(Sharecast News) - Financial service provider and jewellery retailer Ramsdens reported robust trading in line with its expectations in an update on Monday, buoyed by its diversified business model and trusted consumer brand. The AIM-traded firm, which was holding its annual general meeting, said that since the start of the financial year on 1 October, foreign currency gross profit saw a year-on-year increase of about 3%, with promising momentum building up ahead of the crucial summer trading season.
It said its pawnbroking loan book saw growth, with an increase of £0.4m, reaching £10.7m by the end of February compared to £10.3m as of 30 September.
While jewellery retail revenue remained relatively stable compared to the prior year, the business mix saw notable changes, marked by increased sales of higher-margin secondhand and diamond jewellery alongside decreased sales of premium watches.
As a result, jewellery retail gross profit for the period was up about 5% compared to the prior year.
The board said the purchase of precious metals gross profit saw a significant upturn of around 20% compared to the prior year, attributed to growing consumer awareness of the service, supported by a relatively high gold price.
In terms of strategic expansion, Ramsdens opened two new stores in February, Romford and Burnley, bringing the total number of new stores opened during the period to five.
As of 29 February, the company's total estate comprised 167 stores, including two franchised stores.
Additionally, Ramsdens said it had secured a new £15m revolving credit facility with Bank of Scotland for a five-year term.
The facility replaced the previous £10m revolving credit facility with Virgin Money, offering more attractive terms.
"The board remains highly confident in the group's continued growth prospects and its expectations for the current financial year," Ramsdens said in its statement.
At 1246 GMT, shares in Ramsdens Holdings were up 6.78% at 192.2p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.