StockMarketWire.com - Ramsdens reported continued growth across all business segments in the year ended 31 March 2018.

HIGHLIGHTS:

- The group served more than 800,000 customers during the year (FY17: over 730,000)

- FX revenue increased 26% to £11.3m (FY17: £9m) with FX customers rising 13% to more than 680,000

- Pawnbroking revenue rose 14% to £7m (FY17: £6.1m)

- Precious Metals revenue up 1% to £10.9m (FY17: £10.8m)

- Retail Jewellery sales rose 35% to £8m (FY17: £5.9m)

- Retail estate increased to 131 stores, including 4 franchised (FY17: 127 stores including 3 franchised), four stores relocated and one store completely refurbished

- E-commerce jewellery sales rose by 242% and Click and Collect currency exchanged grew by 117%

CEO Peter Kenyon commented: "It is a great pleasure to report another year of strong growth.

"We are seeing the benefits of the investments made in the Ramsdens brand, staff training, stock levels, presentation of retail jewellery, e-commerce and store relocations come through in the delivery of a strong financial performance.

"Adjusted underlying profit before tax of £6.5m represents a 60% increase on the prior year.

"We have seen very good growth across the group with foreign currency commission increasing 26% to £11.3m (FY17: £9m), retail jewellery gross profit rising 24% to £4.1m (FY17: £3.3m) and pawnbroking interest growing by 14% to £7m (FY17: £6.1m).

"We have a strong platform on which to continue to build.

"The determination of my colleagues to be successful at what they do and their commitment to our loyal and growing customer base alongside the strengths of our improving retail proposition, well invested stores and IT infrastructure all give the Board confidence for the future.

"I am confident in Ramsdens' ability to deliver on our strategic objective and continue to grow."




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