StockMarketWire.com - Pawnbroker Ramsdens said it traded profitably in the first half despite the temporary closure of outlets due lockdowns.

The company said it expected to report a pre-tax profit of £9 million for the '18-month period from 1 April 2019 to 30 September 2020'.

Revenue had fallen significantly, Ramsdens said, due to the lockdowns and restrictions on international travel.

The company's stores were closed on 24 March due to lockdowns and a phased reopening commenced from 28 May, with all stores in England, Scotland and Wales opened by 14 July.

From August, a 'significant majority' of staff across the group's store estate had returned to work.

Following the re-opening of stores, foreign currency commission had been about 30% of the comparable prior-year level.

'However, the performance of the group's jewellery retail segment has been encouraging and the purchase of precious metals segment has benefited from the strong gold price,' Ramsdens said.


At 9:09am: [LON:RFX] Ramsdens Holdings Plc share price was +14.5p at 126p



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