Ramsdens Holdings Plc · LSE:RFX
Ramsdens — H1 FY26 Earnings Presentation
25 slides from Ramsdens's earnings presentation, Jun 3, 2026
Slide 1: Unaudited Interim Results for the six months ended 31 March 2026
Unaudited Interim Results for the six months ended 31 March 2026
Slide 2: Disclaimer
Disclaimer This document, which comprises a presentation of the results for the six months ended 31 March 2026 (the "Presentation"), has been prepared by, and is the sole responsibility of, Ramsdens Holdings PLC (the "Company"). This Presentation has not been approved by an authorised person in acco
Slide 3: Contents
CONTENTS Summary H1 FY26 Overview Financials Outlook APPENDICES Who we are Lease portfolio The Board Image credit: Andrew Heptinstall Photography
Slide 4: Record performance - HY26 profits exceeding FY25 at £16.7m
Record performance - HY26 profits exceeding FY25 at £16.7m Financial highlights Operational highlights • Revenue increased 62% to £83.7m (HY25: £51.6m) • Net store growth – new stores opened in Hull and Wakefield and an independent pawnbroker acquired • Gross profit increased 48% to £40.1m (HY24: £2
Slide 5: Overview of Ramsdens – consistent growth & delivery
Overview of Ramsdens – consistent growth & delivery Profit Before Tax growth Dividend growth Profit before tax (£'000) Dividend declared (pence per share) 30,000 18.0 25,000 16.0 14.0 20,000 12.0 10.0 15,000 8.0 6.0 10,000 4.0 2.0 5,000 0.0 FY22 FY23 FY24 FY25 H1 FY26 0 FY22 FY23 FY24 FY25 LTM Mar-2
Slide 6: Strong Foundations
Strong Foundations Financial base Well invested systems Diversified income streams Well established bespoke customer centric core operating Strong cash generation system Cash to invest Integrated websites Can leverage off head office cost base Strong consumer brand Great culture Advertising through
Slide 7: Clear growth strategy
Clear growth strategy CAPITALISE ON DRIVE GROWTH FROM GROW ONLINE EXPAND STORE CONSOLIDATION CORE ESTATE PRESENCE ESTATE OPPORTUNITIES High street and online are complementary Replicate the established successful store model in new towns: Further growth to come through from new store openings in rec
Slide 8: Financials
FINANCIALS
Slide 9: Summary profit & loss
Summary profit & loss Key highlights Consolidated profit & loss ▪ Revenue increased 62% to £83.7m (HY25: £51.6m) HY26 HY25 6m change FY25 £000s ▪ Gross profit increased 48% to £40.1m (HY25: £27.1m) driven (6 months) (6 months) % (12 months) primarily by purchase of precious metals which increased 13
Slide 10: Purchase of precious metals – gross profit increased 130% year on year
Purchase of precious metals – gross profit increased 130% year on year History Opportunities and risks £000s HY26 HY25 FY25 + Sterling gold price – expectation is for (6 months) (6 months) (12 months) price to remain high in short to medium Revenue 44,375 18,433 44,995 term but could fall back from
Slide 11: Jewellery retail – gross profit increased 31% year on year
Jewellery retail – gross profit increased 31% year on year History Opportunities and risks + Benefit of recent investments in stock HY26 HY25 FY25 £000s (6 months) (6 months) (12 months) levels and presentation Revenue 26,064 20,678 42,564 + Staff training and development of Gross profit 10,361 7,90
Slide 12: Pawnbroking – gross profit increased 18% year on year
Pawnbroking – gross profit increased 18% year on year History Opportunities and risks £000s HY26 HY25 FY25 + Sterling gold price allows higher loans on gold jewellery (6 months) (6 months) (12 months) Revenue 8,097 6,856 14,070 + Quality loan book with conservative loan to value ratios and industry
Slide 13: Foreign currency exchange – currency exchanged broadly flat year on year
Foreign currency exchange – currency exchanged broadly flat year on year History Opportunities and risks HY26 HY25 FY25 £s (6 months) (6 months) (12 months) Total currency exchanged 145.4m 146.1m 429m Sales of currency 137.4m 137.9m 410m Purchases of currency 8.0m 8.2m 19m Gross profit 4.6m 5.1m 13.
Slide 14: Cash flow statement
Cash flow statement Key highlights Cash flow statement ▪ Net cash flows from operating activities in HY26 were £3.2m (HY25: £5.1m) HY26 HY25 FY25 £000s (6 months) (6 months) (12 months) ▪ Working capital cash outflows totalled £13.2m in HY26 following significant working capital investments of £2.5m
Slide 15: Financial position
Financial position Key highlights Balance sheet ▪ Strong balance sheet with net assets of £70.2m (£62.9m £000s As at 31 March As at 31 March As at 30 September 2026 2025 2025 at September 2025), including cash of £12.8m (£15.4m at Non-current assets September 2025) Property, plant and equipment 7,94
Slide 16: Summary & Outlook
WE BUY & SUMMARY & OUTLOOK AY fi Trustpilot’k *K & *& *& oo
Slide 17: Summary and outlook
Summary and outlook • FY26 trading remains strong and the Board now Profit before tax (£'000) expects profit before tax for FY26 to be between 30,000 £30m and £33m 25,000 • Robust business model with diversified income 20,000 streams proven to enable consistent strong growth 15,000 and progress acro
Slide 18: Appendices
APPENDICES Who we are Lease portfolio The Board
Slide 19: Ramsdens is a diversified financial services provider and retailer
Ramsdens is a diversified financial services provider and retailer • Headquartered in Middlesbrough • 175 stores including one franchised store as at May 2026 • Mainly located in Northern England, Scotland and Wales • Over 850 employees • Dedicated customer websites for all core services • Key servi
Slide 20: Overview of four key income streams
Overview of four key income streams Foreign Currency Retail Jewellery • Predominantly exchanging currency notes for holiday makers (85% • Sale of new and second hand jewellery, including premium watches is selling €s, 10% is selling US$s and 5% all other currencies) • Retail revenue split broadly ev
Slide 21: Overview of four key income streams
Overview of four key income streams Pawnbroking Purchase of Precious Metals • Loans secured against valuable jewellery items • Purchase of unwanted or broken jewellery items from customers • Loan term of six months • Items are either retailed or smelted for sale through wholesale market • Interest r
Slide 22: New stores
New stores Key highlights ▪ Two new stores were opened in the Period in Hull and Wakefield and an independent pawnbroker in Sheerness was acquired ▪ Relocated Bristol store which was under notice to close due to the shopping centre planning a major redevelopment. ▪ In the UK there are over 350 locat
Slide 23: Branch estate lease portfolio
Branch estate lease portfolio Lease break/expiry position at March 2026 ▪ 169 leased stores as at March 2026 (nb one franchisee and two 120 owned freehold stores) 99 100 ▪ Average lease term remaining (to end of lease or break if earlier) is 15 80 months (as at March 2025 – 17 months) with only two
Slide 24: The Ramsdens Board
The Ramsdens Board Peter Edward Kenyon, Chief Executive Officer Peter joined Ramsdens in November 2001 as Operations Director and was appointed Chief Executive Officer in January 2008. Peter led the MBO in 2014 and has been responsible for over 30 acquisitions for the Group. He is responsible for ov
Slide 25: The Ramsdens Board
The Ramsdens Board Simon Edward Herrick, Non-Executive Chairman, Chair of the Nominations Committee Simon joined the board of the Company on 1 January 2017. Simon has significant experience in senior executive roles including positions as CFO of Debenhams plc, Northern Foods plc, Darty plc and PA Co