High street jeweller and pawnbroker Ramsdens says it is on track for record results after half year profits grew 68%.
The Teesside-based name, which now runs 158 shops across the country, told investors that pre-tax profits jumped from £2.2m to £3.7m in the six months to the end of March as gross revenue was boosted 33% to £39m. Behind the growth were increased jewellery sales - both instore and online - of £17.3m, up from £13.1m and a 29% rise in pawnbroking lending to £9.7m.
Ramsdens said the new appetite for loans came from existing and new customers - making for record lending in January and March this year. The firm said the continued squeeze on household finances would lead to continued demand for small borrowings throughout the rest of the year.
