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Highlights

  • Pre-tax profit of RFX rose 54% YoY to GBP 6.1 million, revenue up 18% YoY to GBP 51.6 million.
  • Precious metals segment profit jumped 53% YoY amid high gold prices
  • Interim dividend raised to 5.0p, including a special dividend

Ramsdens Holdings PLC (LSE:RFX) reported interim results for the six months ended 31 March 2025, posting a 54%YoY in pre-tax profit to GBP 6.1 million, compared to GBP 4.0 million in the same period last year. Revenue for the period grew by 18%YoY to GBP 51.6 million, driven by growth across all its core business segments.

Ramsdens operates across four primary areas: foreign currency exchange, pawnbroking loans, precious metals trading, and jewellery retail. The purchase of precious metals segment saw gross profit climb 53%YoY to GBP 7.6 million, supported by sustained high gold prices and an increase in gold volume sold by customers. The company noted that a recently launched dedicated gold-buying website exceeded initial expectations in attracting traffic and new customers.

Jewellery retail continued to expand, with revenue up 18%YoY to GBP 20.7 million and gross profit rising to GBP 7.9 million. Pawnbroking delivered 11%YoY growth in gross profit to GBP 6.2 million, aided by the launch of a new website in November 2024 that helped draw in new customers. May 2025 marked a record month for pawnbroking loan issuance.

The foreign currency exchange segment remained broadly in line with the previous year, generating GBP 5.1 million in gross profit, slightly above the GBP 5.0 million recorded in the prior period.

Total net assets grew to GBP 54.7 million, up from GBP 47.8 million a year ago. Net cash increased to GBP 7.4 million, nearly doubling from GBP 3.8 million. Reflecting the first-half performance and management's outlook for the full year, the Board approved a 25%YoY increase in the interim dividend to 4.5 pence per share, and an additional special dividend of 0.5 pence per share, taking the total to 5.0 pence.

The Group opened two new stores in Grantham and Burton during the reporting period and closed two others, maintaining a portfolio of 169 stores, including one franchise location. Since March, terms have been agreed for three new outlets, with the company signalling a return to a higher store-opening rate from FY26 onwards, following a slower rollout in FY25.

Ramsdens stated that its FX services continued to perform in line with expectations, and that overall momentum had carried into the second half of the year. While the company expects continued cost pressures from higher national insurance and minimum wage rates from April 2025, it anticipates full-year profit will exceed GBP 15 million.

Ramsdens Holdings shares were trading 5.76% higher at GBX 349.00 per share as of 4 June 2025. On a year-to-date basis, the share price has increased by approximately 50.11%.