Ramsdens reports record set of full-year results
By Josh White
Date: Wednesday 14 Jan 2026
(Sharecast News) - Ramsdens Holdings reported a record set of results for the year ended 30 September on Wednesday, with profit before tax rising 43% to £16.2m and revenue exceeding £100m for the first time, as strong trading across all core divisions was supported by a sustained high gold price.
Revenue increased 22% year-on-year to £116.8m, while gross profit rose 18% to £60.7m.
Basic earnings per share climbed 42% to 37.0p and net assets increased 17% to £62.9m.
The board proposed a final ordinary dividend of 9p per share alongside a second special dividend of 2p, taking the full-year dividend to 16p per share, up 43% from the prior year.
Performance was led by the purchase of precious metals division, where gross profit surged 52% to £17.9m, supported by higher volumes and the elevated gold price.
Pawnbroking gross profit increased 9% to £12.7m, with growth in the loan book weighted towards the second half.
Jewellery retail gross profit rose 18% to £15.7m, with pre-owned jewellery particularly strong as revenue from this category increased 35%, despite higher gold input costs.
Foreign currency gross profit slipped 3% to £13.8m as customers continued to shift towards lower-margin online ordering and currency cards, even as total currency exchanged edged up 1% to £429m.
During the year, Ramsdens maintained the size of its store estate at 168 stores plus one franchised location, opening new stores in Burton and Grantham, closing its Teesside airport kiosk and merging two central Glasgow sites.
In a trading update for the first quarter of the 2026 financial year, the AIM-traded group said momentum had continued.
Gross profit from precious metals rose by more than 50%, while the pawnbroking loan book increased to £12.8m from £11.4m at the September year end, with record monthly lending levels across the quarter.
Jewellery retail revenue grew by more than 20%, with particularly strong demand for gold coins in October, while foreign currency gross profit fell by around 5% as the mix continued to tilt towards online and card-based transactions.
Following the year end, Ramsdens opened a new store in Wakefield, had three additional stores undergoing shop fit ahead of openings early in 2026, and completed the acquisition of Gemini, a small pawnbroker based on the Isle of Sheppey.
The group also highlighted rising operating costs in 2026, driven mainly by higher employment costs, including the introduction of the higher real living wage from April and the full-year impact of changes to employers' national insurance.
While noting that the financial year was still at an early stage, the board said trading to date had been positive and expects profit before tax for 2026 to exceed £18m, supported by strong cash generation, continued operational momentum and a high gold price.
"Our record performance in 2025 once again demonstrates the strength of our diversified business model, trusted brand and exceptional team," said chief executive Peter Kenyon.
"Group revenue exceeded £100m for the first time, resulting in a pre-tax profit increase of 43% to £16.2m, marginally ahead of market expectations.
"As a consequence of this strong performance and the board's confidence in the future, we are also delighted to recommend a 43% increase to the total dividend for 2025."
He added that the company had a "highly relevant customer proposition" and was looking forward to opening eight to 12 new stores in the year ahead.
"[We are] also continuing to strengthen our online proposition, which is offering more customers opportunities to use our trusted services.
"We look forward to another year of good progress in 2026."
At 0936 GMT, shares in Ramsdens Holdings were down 4.75% at 400.05p.
Reporting by Josh White for Sharecast.com.
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