Latest news with #PeterKenyon
The Independent
6 days ago
- Business
- The Independent
Soaring gold price sees more people ‘clear out' jewellery boxes, Ramsdens says
The soaring price of gold prompting more people to 'clear out' their jewellery boxes has bolstered profits for retailer and lender Ramsdens. The Middlesbrough-based chain, which has 169 UK stores, reported a surge in income from its precious metals buying service and its jewellery shop. Pre-tax profits surged by 54% to a record £6.1 million for the six months to the end of March, compared with the same period last year. Total revenues rose by 18% to £51.6 million year-on-year, the company told investors. Revenues from buying precious metals were up by nearly a third as 'exceptionally high' gold prices helped increase the weight of gold being sold. Ramsdens buys unwanted jewellery from customers and then either sells it in stores or online, or to a bullion dealer. Gold hit its highest ever price in April, reaching about 3,500 US dollars (£2,600) per ounce, with investors flocking to the traditionally 'safe haven' asset as Donald Trump's tariff announcements sparked turmoil in the wider financial markets. Ramsdens chief executive Peter Kenyon said: 'The gold price allows us to pay the customer more, means we make more as well, and also helps pawnbroking a bit with some of the recoveries when people don't pay us back.' He said it is not the case that there are 'queues at the door' for gold-selling, but the higher price is more likely to encourage customers to sell more of their jewellery once they realise how much cash they can get for it. 'Most customers who sell their gold are new to that service because usually you only clear out your jewellery box once,' he told the PA news agency, adding it results in 'two transactions from a new customer' once they have made an initial sale. Ramsdens recently launched a designated gold-buying website which it said is attracting more customers than it had expected. Revenues for its jewellery shop surged 18% year-on-year, despite the higher cost of precious metals being passed on to customers through price rises. Mr Kenyon said the group is 'able to weather a downturn' should the price of gold drop sharply in the months ahead. Meanwhile, rival pawnbrokers chain H&T last month agreed to be bought by US giant FirstCash for nearly £300 million. H&T is the UK's largest pawnbroker with more than 270 shops across England, Scotland and Wales. Mr Kenyon said he was 'not surprised' by the takeover, as investment by US companies into the UK was increasingly attractive amid the strengthening dollar. 'We're a publicly-listed business and if someone came with a big chequebook we'd have to listen – but we're not seeking a purchase at the moment,' he told PA. Shares in Ramsdens jumped by about 6% on Wednesday morning.
Yahoo
6 days ago
- Business
- Yahoo
Soaring gold price sees more people ‘clear out' jewellery boxes, Ramsdens says
The soaring price of gold prompting more people to 'clear out' their jewellery boxes has bolstered profits for retailer and lender Ramsdens. The Middlesbrough-based chain, which has 169 UK stores, reported a surge in income from its precious metals buying service and its jewellery shop. Pre-tax profits surged by 54% to a record £6.1 million for the six months to the end of March, compared with the same period last year. Total revenues rose by 18% to £51.6 million year-on-year, the company told investors. Revenues from buying precious metals were up by nearly a third as 'exceptionally high' gold prices helped increase the weight of gold being sold. Ramsdens buys unwanted jewellery from customers and then either sells it in stores or online, or to a bullion dealer. Gold hit its highest ever price in April, reaching about 3,500 US dollars (£2,600) per ounce, with investors flocking to the traditionally 'safe haven' asset as Donald Trump's tariff announcements sparked turmoil in the wider financial markets. Ramsdens chief executive Peter Kenyon said: 'The gold price allows us to pay the customer more, means we make more as well, and also helps pawnbroking a bit with some of the recoveries when people don't pay us back.' He said it is not the case that there are 'queues at the door' for gold-selling, but the higher price is more likely to encourage customers to sell more of their jewellery once they realise how much cash they can get for it. 'Most customers who sell their gold are new to that service because usually you only clear out your jewellery box once,' he told the PA news agency, adding it results in 'two transactions from a new customer' once they have made an initial sale. Ramsdens recently launched a designated gold-buying website which it said is attracting more customers than it had expected. Revenues for its jewellery shop surged 18% year-on-year, despite the higher cost of precious metals being passed on to customers through price rises. Mr Kenyon said the group is 'able to weather a downturn' should the price of gold drop sharply in the months ahead. Meanwhile, rival pawnbrokers chain H&T last month agreed to be bought by US giant FirstCash for nearly £300 million. H&T is the UK's largest pawnbroker with more than 270 shops across England, Scotland and Wales. Mr Kenyon said he was 'not surprised' by the takeover, as investment by US companies into the UK was increasingly attractive amid the strengthening dollar. 'We're a publicly-listed business and if someone came with a big chequebook we'd have to listen – but we're not seeking a purchase at the moment,' he told PA. Shares in Ramsdens jumped by about 6% on Wednesday morning.
Daily Mirror
08-05-2025
- Entertainment
- Daily Mirror
Man Utd accepted fierce rivals' bid for David Beckham before Real Madrid move
David Beckham took his fame to another level when he left Manchester United for Real Madrid in 2003 - but the former midfielder has revealed that he could have ended up elsewhere David Beckham's desire to leave Manchester United for Real Madrid was solidified after the club tried to flog him to Barcelona. Beckham became a Galactico in 2003 when he swapped Old Trafford for the Bernabeu – but the transfer only came to fruition after Barca got involved in a tug of war. The England star came through the United academy and played for the club for 11 years before deciding to move elsewhere. A falling out with manager Sir Alex Ferguson played a role in the decision, with Fergie writing in his 2013 autobiography: 'David was the only player I managed who chose to be famous, who made it his mission to be known outside the game.' He added: 'The minute a Manchester United player thought he was bigger than the manager he had to go... David thought he was bigger than Alex Ferguson. There is no doubt about that in my mind.' Real Madrid ended up paying €35million (£25m) to United for Beckham and the right midfielder joined on a four-year contract which was reportedly worth €6m per year. But had United chairman Peter Kenyon got his way, Beckham would have actually joined Barcelona instead. "My team was always Real Madrid and funnily enough I got sold from Manchester United to Barcelona," he told CBS Sports. "I was on holiday, Peter Kenyon phoned me and he said: 'We've accepted a bid from Barcelona and we're selling you'. "I said: 'If you are going to sell me, the only team I want to move to is Real Madrid', because I always had a dream of playing for Real Madrid when I was a young kid. "I never thought I'd leave Manchester United but if I did, you know, I'd love to have played for Real Madrid. And if they wanted me to leave then the only club that I wanted to go to was Real Madrid." Beckham added: "Funnily enough, in a day and a half, it happened.' In a separate interview with BBC Radio 4, Beckham admitted that United's desire to sell him to a club he didn't want to join helped clarify his thoughts about joining a star-studded Real. 'There was never any revenge. I was hurt and angry at the time at how the situation had gone because throughout the season I was left out of certain games but never thought it would lead to me leaving,' he said. "But I had heard rumours I might be sold. I was on holiday in the States with Victoria and one of my friends called and told me it was on Sky Sports that United had agreed terms with Barcelona. I said 'that wasn't right, I don't know anything about it'. "I then flew back to London. I tried to speak to Peter Kenyon and tried to speak to the manager and he said 'no'. I said 'well I need to speak to him and understand what is going on'. He said 'it's true, we have agreed a deal'. "That is when I spoke to my agent and said 'if I am going to move, I'm going to move to Madrid'. Within a day, I was sat with the president of Madrid and we agreed that is where I was going to go.' Join our new MAN UTD WhatsApp community and receive your daily dose of Manchester United content from Mirror Football. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
