High street pawnbroker Ramsdens expects half year profits to be ahead of last year thanks in part to record pawnbroking levels.
In a pre-close trading statement, the Middlesbrough-based plc told investors it is eyeing pre-tax profits of at least £9.5m in the six months to the end of March, up from £8.3m in 2022. Trading was said to be strong across Ramsdens' jewellery, foreign exchange and pawnbroking divisions and the firm is looking at new sites, including through acquisitions.
Ramsdens said jewellery gross profit had increased 20% year-on-year while foreign currency volumes had recovered to about 70% of pre-pandemic levels. And the firm's pawnbroking loan book has increased 13% to £9.7m - a record level.
