Business
Interim Results
Interim Results.
About this update from Ramsdens Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8793B\n Ramsdens Holdings PLC\n 15 June 2021\n \n \n \n \n \n \n \n 15 June 2021\n \n \n Ramsdens Holdings PLC\n \n \n (\"Ramsdens\", the \"Group\", the \"Company\")\n \n \n Interim Results for the six months ended 31 March 2021\n \n \n Resilient performance and well positioned to resume our growth strategy\n \n \n Ramsdens, the diversified financial services provider and retailer, today announces its Interim Results for the six months ended 31 March 2021 \n (the \"Period\"). \n \n \n The first UK national lockdown was introduced on 23 March 2020, and so the comparable period for the six months to 31 March 2020 was not substantially impacted by these restrictions.\n \n \n \n \n \n \n \n \n \n 6 months ended 31 March 2021 (unaudited) HY21\n \n \n \n \n 6 months ended 31 March 2020\n \n \n (unaudited) HY20\n \n \n \n \n 18 months ended\n \n \n 30 September 2020 (audited)\n \n \n \n \n \n \n Gross Revenue\n \n \n \n \n £20.8m\n \n \n \n \n £27.0m\n \n \n \n \n £76.9m\n \n \n \n \n \n \n Gross Profit\n \n \n \n \n £10.5m\n \n \n \n \n £16.7m\n \n \n \n \n £47.1m\n \n \n \n \n \n \n Profit/(Loss) before tax\n \n \n \n \n (£0.1m)\n \n \n \n \n £2.3m\n \n \n \n \n £9.2m\n \n \n \n \n \n \n Net Cash\n \n \n \n \n £15.0m\n \n \n \n \n £11.1m\n \n \n \n \n £15.9m\n \n \n \n \n \n \n \n \n \n Highlights: \n \n \n · \n Resilient performance against challenging trading conditions caused by Covid-19 restrictions, with pre-tax losses limited to £0.1m (HY20: £2.3m profit)\n \n \n · \n Gross revenue decreased 23% to £20.8m (HY20: £27.0m)\n \n \n · \n Jewellery retail revenue increased 14% to £8.1m (HY20: £7.1m) despite the regional lockdown periods. Online revenue doubled year on year and now represents 17% of total jewellery sold\n \n \n · \n Pawnbroking gross profit decreased 26% to £3.5m (HY20: £4.7m) as a result of the loan book falling as customers repaid their loans during lockdown and subdued demand for new loans\n \n \n · \n Foreign Currency Exchange severely impacted by the Covid-19 travel restrictions resulting in income down 78% to £1.0m (HY20: £4.7m)\n \n \n · \n Gross profit from purchases of precious metals decreased 28% to £2.3m (HY20: £3.2m), reflecting reduced high street footfall during the regional lockdown periods\n \n \n · \n Administration expenses decreased 26% to £10.4m (HY...