Highlights

  • Ramsdens Holdings shares jumped 8.8% on 10 February 2026, extending one-year gains to 78.5%
  • The company’s FY26 profit before tax is expected to exceed GBP 21 million, compared with GBP 16.2 million in FY25.
  • Jewellery retail activity continued across physical stores and online platforms during FY26.
  • Foreign exchange volumes remained flat year on year, with rising use of digital and card-based services.

Ramsdens Holdings PLC (LSE:RFX) shares were trading at GBP 440.90, up 8.86% during the morning session on 10 February 2026. The stock has delivered a 78.50% return over the past year, with the today’s move following the company’s FY26 trading update, which pointed to profit expectations ahead of prevailing market forecasts.

For the year ending 30 September 2026 (FY26), Ramsdens now expects profit before tax to exceed GBP 21.0 million compared with GBP 16.2 million reported in FY25. The updated outlook reflects performance that has tracked ahead of internal expectations in the early part of the financial year, supported by favourable conditions in precious metals and steady contributions from the Group’s other operating segments.

Precious Metals Drive Early-Year Momentum

The purchase of precious metals has remained a key contributor during FY26, benefiting from elevated gold prices that have reached new record levels in 2026. Gold prices are reported to be approximately 20% higher than at the start of the financial year, while volumes of gold purchased have also been notably higher, particularly since the beginning of calendar year 2026. The combination of price and volume trends has supported profitability in this segment.

Retail and Lending Activity Continue Across Channels

Jewellery retail activity has continued across both physical stores and online channels. During the period, the Group completed the re-platforming of its dedicated jewellery website, which went live at the end of January 2026.

Pawnbroking income has also maintained momentum, with lending levels reaching record highs in January. The company continues to lend conservatively in relation to prevailing gold prices, maintaining alignment with its established operating approach.

FX Activity and Store Expansion Shape Operational Momentum

Foreign currency trading during FY26 has continued broadly in line with performance seen in the first quarter. Volumes are reported to be flat year on year, alongside a continued shift toward click-and-collect services and Ramsdens Mastercard multi-currency card usage. These channels typically operate at lower margins but remain an integral part of the Group’s diversified income base.

Ramsdens has continued to expand its retail footprint during FY26. New stores in Wakefield and Hull have been trading in line with expectations. The Group remains on track to open between eight and 12 new stores during the financial year. In addition, a store acquired on the Isle of Sheppey in December 2025 has since been refurbished, rebranded, and integrated into the estate, with trading reported to be in line with expectations.

Frequently Asked Questions (FAQs)

  1. What is Ramsdens’ updated profit outlook for FY26?

The company now expects profit before tax for FY26 to be more than GBP 21 million, compared with GBP 16.2 million in FY25, and ahead of current market expectations.

  1. Which segment contributed most to the FY26 profit upgrade?

The purchase of precious metals segment was a key contributor, supported by higher gold prices and increased gold buying volumes during FY26.

  1. How are other business segments performing in FY26?

Jewellery retail, pawnbroking, and platform-led services such as FX trading and store expansion have continued to contribute alongside precious metals activity.