- Financial services provider and retailer Ramsdens Holdings has said it expects a 'resilient' H1 performance against challenging market conditions in its trading update for the six months ended 31 March 2021.

However, the stronger Covid-19 restrictions has significantly reduced high street footfall, and the additional international travel restrictions further weakened demand for foreign currency exchange.

Against this backdrop, the group maintained a prudent approach to controlling costs and protecting resources, while operating almost 90% of the Ramsdens store estate in a Covid-19 secure way to safeguard staff and customers. It has continued to invest in its online jewellery retail proposition, where revenue has more than doubled year on year.

As a result of these dynamics, the board anticipates reporting a small loss for the period but still traded cash positively.

The group's balance sheet and liquidity remains strong with approximately £15 million cash at the period end and an undrawn revolving credit facility of £10m.

At 9:42am: [LON:RFX] Ramsdens Holdings Plc share price was 0p at 136p

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