Business
Interim Results-six months ended 30 September 2018
Interim Results-six months ended 30 September 2018.
About this update from Ramsdens Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6891I Ramsdens Holdings PLC 28 November 2018 \n\nRamsdens Holdings PLC\n(\"Ramsdens\", the \"Group\", the \"Company\")\nInterim Results for the six months ended 30 September 2018\nContinued strategic progress and on track to meet full year expectations\nRamsdens, the diversified financial services provider and retailer, today announces its Interim Results for the six months ended 30 September 2018 (the \"Period\" or the \"first half\").\nHighlights: \n· Continued Group revenue growth reflecting diversification of the Group's core income streams with:\no Foreign Currency Exchange income down 2% to £7.3m (H1 FY18: £7.5m) impacted by exceptionally hot UK summer weather as well as Easter trading falling outside of the Period;\no Pawnbroking income less impairment up 5% in the period, following an increase in loan book of 6% from financial year end at 31 March 2018 to £6.8m; \no Jewellery Retail revenue grew by 27% to £4.5m (H1 FY18: £3.5m) including online jewellery retail which itself increased by 126% year on year; \no Gross profit from purchases of precious metals grew 6% to £2.6m (H1 FY18: £2.5m).\n· A small and expected decline in EBITDA year on year, reflecting the absence of peak Easter holiday FX trading, the opening costs associated with new stores, and investment in the infrastructure and team to support growth, in part compensated by improved retail jewellery and pawnbroking trading.\n· Four stores opened during the Period and these, together with the four stores opened in H2 FY18, are collectively trading ahead of initial expectations. A further four stores have opened since the Period end. \nFinancial Summary:\n\n\n\n\n \n\n\n6 months ended 30 September 2018 \n\n\n6 Months ended 30 September 2017\n\n\nIncrease / (Decrease)\n\n \n\n\n \n\n\n\nGroup Revenue\n\n\n£23.9m\n\n\n£21.8m\n\n\n10%\n\n \n\n\n\nEBITDA\n\n\n£5.7m\n\n\n£5.9m\n\n\n(3%)\n\n \n\n\n\nUnderlying EBITDA*\n\n\n£5.8m \n\n\n£6.0m \n\n\n(3%)\n\n \n\n\n\nProfit Before Tax\n\n\n£5.0m\n\n\n£5.2m\n\n\n(3%)\n\n \n\n\n\nUnderlying Profit Before Tax*\n\n\n£5.1m\n\n\n£5.3m\n\n\n(3%)\n\n \n\n\n\nBasic EPS\n\n\n13.0p\n\n\n13.4p\n\n\n(3%)\n\n \n\n\n\nInterim Dividend\n\n\n2.4p\n\n\n2.2p\n\n\n9%\n\n \n\n\n\n*Un...