Ramsdens Holdings PLC Pre-Close Trading Update (1224C)
11 April 2017 - 4:00PM
UK Regulatory
TIDMRFX
RNS Number : 1224C
Ramsdens Holdings PLC
11 April 2017
11(th) April 2017
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 year ended 31 March 2017 (the "Period").
Ramsdens' strong performance has continued across the Group
resulting in further revenue growth and strengthening gross profit
when compared to the prior year. As a result, the Board anticipates
reporting adjusted* profit before tax for the Period comfortably
ahead of management's previous expectations.
The strong performance has been driven by continued growth
across each of its four key income streams; foreign currency
exchange, pawnbroking, precious metals purchasing and jewellery
retail. The Group's growing momentum and strengthening reputation
as a market leading foreign exchange brand has continued, resulting
in revenue from this income stream being significantly ahead of the
prior year.
The Group has continued to develop its store estate and
currently has 127 stores, including three franchised stores. During
the financial year Ramsdens closed one store, relocated one store
and, in December 2016, acquired four stores from a competitor. The
Group continues to see an opportunity to expand the store estate
with, as previously announced, approximately 12 store openings
planned during the forthcoming year.
Peter Kenyon, CEO of Ramsdens commented:
"We are delighted to update our shareholders on a
transformational year for Ramsdens, which included our successful
IPO completed on 15(th) February.
The Group's strong operational momentum has continued post IPO
resulting in the Board anticipating reporting Adjusted PBT
comfortably ahead of its previous expectations.
We have a trusted and recognised brand, a leading store
portfolio, an exceptional team and a diversified offering. We look
forward to further updating our stakeholders with our Full Year
results in June."
*adjusted profit before tax represents profit before tax before
IPO related costs.
Enquiries:
Ramsdens Holdings PLC Via Hudson Sandler
Peter Kenyon, CEO
Martin Clyburn, CFO
Liberum Capital Limited (Nomad) Tel: +44 (0) 20
3100 2000
Richard Crawley
Joshua Hughes
Robert Johnson
Hudson Sandler Tel: +44 (0) 20
7796 4133
Alex Brennan
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 127 stores within
the UK (including 3 franchised stores) and has a small but growing
online presence.
In the last financial year, the Group served over 700,000
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
This information is provided by RNS
The company news service from the London Stock Exchange
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