Ramsdens (RFX) investor relations material

Trading performance and profit outlook

• Profit before tax for FY26 now expected to be at least £24m, potentially up to £28m, up from previous consensus of £21.1m.

• Strong trading across all core income streams, with precious metals division outperforming due to sustained high gold prices.

• Average gold price year to date is about 50% higher than prior year, driving both higher purchase volumes and profits.

• Jewellery retail revenue is up approximately 25% year on year.

• Pawnbroking lending reached record levels in February 2026, with the loan book up 18% since September year end.

Operational highlights and business development

• New stores in Wakefield, Hull, and Sheerness have performed well since opening.

• On track to open 8–12 new stores in FY26, with several currently in shop fit.

• Currency exchange volumes stable year on year, though commissions are 5% lower due to shift to lower-margin online and card sales.

• Foreign currency activity remains stable despite geopolitical uncertainties, with primary focus on Euro sales for European travel.

• The business operates 172 UK stores and maintains a growing online presence.

Strategic positioning and leadership commentary

• Diversified business model and strong brand underpin continued outperformance.

• High gold prices are significantly boosting customer demand and profits in precious metals.

• Interim results for the six months to 31 March 2026 are expected in early June 2026.

• Fully FCA authorised for pawnbroking, credit broking, and payments.