High street stalwart Ramsdens has broken the £100 million revenue barrier for the first time, delivering a massive surge in annual profits driven by soaring gold prices and robust demand for its services.
Record Financial Performance
The diversified pawnbroker, foreign currency, and jewellery retailer saw its revenue climb by a substantial 22% to £116.8 million for the year ending September 2025. This impressive top-line growth translated directly to the bottom line, with operating profit rising to £17 million from £12.4 million. Most strikingly, pre-tax profit jumped by 43% to £16.2 million, marginally ahead of market expectations.
Chief Executive Peter Kenyon attributed the record performance to the strength of the company's diversified model. The standout segment was the purchase of precious metals, where gross profit skyrocketed 52% to £17.9 million, a direct benefit from the sustained high price of gold.
Segment Performance and Expansion Plans
Other core areas of the business also showed positive momentum. The pawnbroking operation recorded a 9% increase in gross profit to £12.7 million, with the loan book growing significantly in the second half of the year. This lending momentum is reported to have continued into the first quarter of 2026, reaching record levels month-on-month.
In jewellery retail, gross profit grew 18% to £15.7 million, with second-hand items performing particularly well. The foreign currency division was the only area to see a slight dip, with gross profit down 3% to £13.8 million as customer preference shifted towards lower-margin online orders and currency cards.
On the back of this strong performance, the board is pushing ahead with an ambitious physical expansion. The company, which currently operates 168 stores, opened new sites in Grantham, Burton, and Wakefield during and after the financial year. It also merged Glasgow sites and closed a Teesside airport kiosk. Looking ahead, Kenyon confirmed plans to open between eight and 12 new stores in the coming year, with work already underway on three openings scheduled for late January and February 2026.
Confident Outlook and Shareholder Rewards
Reflecting the board's confidence in the future, Ramsdens has recommended a significant increase in shareholder dividends. The total dividend for the 2025 financial year will rise by 43% to 16p per share. This includes a final ordinary dividend of 9p per share and a second special dividend of 2p per share.
"Our record performance in FY25 once again demonstrates the strength of our diversified business model, trusted brand and exceptional team," said Peter Kenyon. He added that the group is continuing to strengthen its online proposition while expanding its store network. "We look forward to another year of good progress in FY26."
