Ramsdens (RFX) investor relations material

FY26 outlook

• FY26 profit before tax expected at £32m–£35m, in line with upgraded guidance issued on 16 July 2026.

Precious metals and pawnbroking

• Average FY26 gold price ~45% above FY25; average weight of gold purchased up 40% YoY, with volumes still elevated after peaking in February/March.

• Precious metals gross profit doubled to ~£36m from £18m in FY25.

• Pawnbroking loan book, net of part payments, reached £15.9m at year-end vs £11.5m in FY25; repayment rates in line with historical performance and loan-to-value below 65%.

Retail, currency and store network

• Jewellery retail gross profit ~20% ahead of FY25; margins maintained despite higher gold input costs, with strength online, in-store and across key product categories.

• Currency exchanged broadly in line with FY25 at keener margins; ~60,000 Ramsdens Mastercard Multi Currency Cards in circulation offset a small decline in cash currency exchanged.

• Opened 10 stores in FY26, including the Sheerness acquisition and nine new sites; St Helens and Leicester stores in fit-out, with a solid FY27 pipeline.