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The pawnbroking sector is on fire with both H&T and Ramsdens saying they expect to wallop forecasts. In Ramsdens’ case, it’s not just pawnbroking (loan book +40% to £8.6m) performing strongly but also its FX service (holiday money), where volumes have returned to pre-pandemic levels with improved margins, and gross profit is +280% to £12.6m.... ...
Middlesborough-based Ramsdens’ mainstay is pawnbroking - providing short-term loans to those without access to the mainstream lenders. It has most of its pawnbroking stores in the North and North-East and charges a fairly typical industry average of 5-9% simple interest a month on a piece of jewellery that is pledged for a small loan - at the av... ...
Ramsdens has reported its results for the year to end September with a pretax profit of £0.56m. Comparisons are against an 18 month period in the prior year, which had been extended due to Covid so are not especially meaningful. Additionally, pretax profit is distorted by £1.5m received from furlough and also the business rates moratorium on so... ...
Sometimes there is a technical position built up in a share that just has to unwind. Take the example of Reach (RCH; 149p), which I covered last month. One hedge fund had gone short around July at the 65p level and for weeks was dripfeeding shares and suppressing the price. In the end, a change in the business resulting in a “materially ahead” s... ...
A volatile month for Ramsdens. After being sold off on the back of rival H&T (HAT; 341p) saying the FCA is reviewing its credit assessments for its unsecured loans business, the shares then took off to new highs as Ramsdens confirmed it does not operate in this area at all. Separately, Ramsdens reported its H1, showing all segmen... ...
Ramsdens (RFX; 182p) is a pawnbroking chain in the North and North East that drives growth from its core property estate by offering holiday money, loans, gold buying, jewellery and other offerings alongside pawnbroking. Chief executive Peter Kenyon, who I met this month (during a particularly rainy day in June), said that if the rain continues... ...
For the six months to end March, pretax profit and eps went up by 60% and 61% to £6.5m and 16.3p, respectively. Having reduced its store count by one in H1, H2 saw RFX find its mojo for the first time in many years with four stores opened including one franchise. New stores penalise short run earnings, which I suspect explains the anaemic... ...
The VC backer placing the rump of its shares last year went unnoticed and it has taken excellent interims to galvanise the share price to new highs.For the six months to end September, sales were up 18% to £21.8m and both pretax profit and eps went up by 63% to £5.2m and 13.4p, respectively. Net cash went up £3.7m to £13.... ...
In the July issue of SCSW I recommended two very different businesses making money in the currency markets, Alpha FX (AFX; 490p) and Ramsdens (RFX; 172.5p). Another company I came across when I was looking at these two was FairFX, an international payment service provider, and following a meeting with chief executive Ian Strafford-Taylor, I thin... ...
Ramsdens shares rocketed to a record new high after saying results are running “significantly ahead of market expectations.” The foreign exchange business gained additional momentum through the traditional peak period of July and August. In addition, it is benefiting from the continued strong gold price, have helped the precious metals buying an... ...