Updates

Ramsdens - Could exceed expectations

January 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

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 segments growing. Revenues grew 30% to £32.5m and gross profit by 23% to £20.5m. In view of the high prevailing gold price during the period, Ramsdens took advantage by scrapping some slower moving stock, generating an additional £0.6m of gross profit. Adjusting for that, gross profit was ahead 19% to £19.9m, pretax profit by 12% to £5.7m and eps by 22% to 15.9p. ...

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