Ramsdens sees interim and FY profit significantly ahead of market views

AIM-listed diversified financial services provider and retailer Ramsdens said on Friday that its interim and full-year pre-tax profit are expected to be significantly ahead of market expectations.

The group said the strong foreign exchange results in the early summer months gained additional momentum through the traditional peak period of July and August, while it is also benefiting from its jewellery retail initiatives. These, along with the continued strong gold price, have helped the precious metals buying and pawnbroking segments.

Chief executive officer Peter Kenyon said: "We are delighted to report a strong trading period across all the company's core business segments and in particular a strong peak trading period for foreign exchange.

"We have a trusted and recognised brand, a leading store portfolio, an exceptional team and a diversified offering. We look forward to further updating our stakeholders with our interim result results in late November."

At 0845 BST, the shares were up 16% to 165.99p.