Teesside-based pawnbroker Ramsdens has reported a dramatic surge in half-year profits and revenue, with pre-tax profits rising to £16.7m from £6.1mTom Keighley and John Rogan Audience Engagement Editor
14:53, 05 Jun 2026
Ramsdens CEO Peter Kenyon
High street pawnbroker Ramsdens has credited the diversity of its business model as it announces a substantial increase in half-year revenue and profits.
The Teesside-headquartered chain, which operates 175 branches nationwide, continues to capitalise on elevated gold prices while also highlighting its multi-service offering, which encompasses new and pre-owned jewellery and watches, as well as foreign exchange. Fresh, unaudited half-year figures for the London Stock Exchange-listed company reveal revenue of £83.7m in the six months ending March, up from £51.6m during the corresponding period last year.
Pre-tax profits meanwhile surged to £16.7m, compared with £6.1m, while operating profit reached £17.1m, up from £6.5m. The expansion was fuelled by a 130% rise in gross profits for the group’s precious metals purchasing division to £17.5m, a 31% uplift in gross profits within its jewellery retail arm to £26.1m, and 18% growth in gross pawnbroking profit to £7.3m.
Ramsdens characterised many of its established branches as “cash cows” requiring minimal capital expenditure. Ambitions to open between eight and 12 new outlets during the current financial year remain on course, with recent openings in Abergavenny and Ashford, and new locations being readied in Newark, Hereford and Skegness. Peter Kenyon, chief executive, said: “The group is in a great position. While the gold profits grab the headlines, the group has also delivered gross profit growth of 18% in pawnbroking and 31% in retail jewellery. Customer numbers in FX continue to be strong with total currency exchanged broadly flat.
“The group has maintained a conservative approach to pawnbroking loan to value ratio and provides additional interest rate reductions assisting customers in financial difficulty. The strong profits we are generating are funding the growth in our working capital assets and an accelerated new store opening program, as well as rewarding shareholders with an increased dividend.”, reports Business Live.
Despite rising overheads – including higher staffing costs driven by headcount growth and a pay review that saw the group adopt the Real Living Wage as its entry-level rate of pay – Ramsdens still posted strong half-year gains. The company informed investors that employment costs have been rising by approximately 10% per year in recent years.
Mr Kenyon added: “Whilst the economic backdrop remains challenging with increasing employment costs, high interest rates and continued inflation, we remain highly confident in our opportunity to further strengthen the performance of our existing stores while adding new locations, executing against our established long-term growth strategy. Our balance sheet remains strong and our high level of cash generation provides options on how we allocate our capital to achieve growth.
“I’d like to thank the whole Ramsdens team for their continued focus on providing a great service and helping customers in their everyday lives.”
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