Ramsdens (RFX) investor relations material

Profit guidance and trading performance

• FY26 profit before tax is now expected to be at least £28.5m, potentially up to £31.5m, up from the previous consensus of £24.1m.

• H1 FY26 profit performance will exceed the full year FY25 result.

• Strong performance across core income streams, especially from high gold prices in the precious metals division.

• Jewellery retail revenue is up approximately 25% year on year, with improved gross margins.

• Pawnbroking loan book increased 24% since September year end, reaching £14.1m.

Operational highlights and risks

• Gold price in H1 FY26 was 50% ahead of last year for several weeks, currently about 40% higher.

• Increased gold purchases, with weight purchased up about 50% year on year.

• Currency exchange volumes are only slightly down, but commission is 9% lower due to shift to lower-margin online and card sales.

• New stores in Wakefield, Hull, Sheerness, Ashford, and Abergavenny are trading well; 10-12 new stores expected to open in FY26.

• Board remains cautious due to geopolitical and economic uncertainty, including volatile gold prices and potential impact on travel and currency sales.

Upcoming events and company overview

• Interim results for the six months to 31 March 2026 will be announced on 3 June 2026.

• Live investor presentation scheduled for 4 June 2026 at 5:00pm BST.

• Operates in four core segments: foreign currency exchange, pawnbroking loans, precious metals, and jewellery retail.

• Operates 175 UK stores and has a growing online presence.

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