Latest news with #Ramsdens
BBC News
18-07-2025
- BBC News
Two arrested following Derby pawnbroker shop raid
Two men have been arrested following a robbery at a pawnbroker in Derby city people in masks and black clothing targeted Ramsdens Pawnbrokers in St Peter's Street at about 13:45 BST on was injured in the incident, according to Ramsdens, but Derbyshire Police said jewellery was men aged 22 and 23 were arrested on Friday on suspicion of robbery and remain in police custody, said the force.
Daily Mail
04-06-2025
- Business
- Daily Mail
Soaring gold price boosts pawnbroker Ramsdens as people clear out their jewellery boxes
The price of gold hitting about $3,500 in April has bolstered profits at pawnbroker Ramsdens as people clear out their jewellery boxes. The chain, which has 169 UK stores, reported a surge in income from its precious metals service and jewellery shop. Pre-tax profits rose 54 per cent year-on-year to a record £6.1million in the half-year to the end of March. Total revenue rose 18 per cent to £51.6million with proceeds from precious metals up by nearly a third. Ramsdens buys unwanted jewellery and then either sells it in stores or to a bullion dealer.
The Independent
04-06-2025
- 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
04-06-2025
- 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 Mail
14-05-2025
- Business
- Daily Mail
Britain's biggest pawnbroker set for £300m takeover by US rival amid gold price warning
H&T is set to be acquired by a US industry giant in a deal valuing Britain's biggest pawnbroker at almost £300million. The London-listed group, which has seen profits buoyed in recent times by a tough consumer environment, has rejected three offers from FirstCash since December. But the group said on Wednesday it would recommend the 661p per-share cash offer to investors. Headquartered in Fort Worth, Texas, FirstCash operates more than 3,000 retail pawn and consumer lending locations across the US and Latin America. It has pursued a strategy of aggressive expansion, having opened or acquired 1,365 pawn stores since 2017. FirstCash's takeover bid, which partly comprises 11p per H&T share final dividend, was at a premium of 44 per cent of H&T's closing price on Tuesday. H&T shares soared almost 40 per cent in early trading to 640.2p, having added more than 80 per cent since the start of 2025. The group saw double-digit profit growth last year as it benefited from 'the need for small sum, short-term lending continues to grow given macroeconomic conditions', H&T told shareholders in March. H&T, which has 285 stores, also recently announced plans to expand its footprint in new locations and acquire existing independent pawnbroking sites. Pawnbrokers, such as rival Ramsdens, have benefited from the soaring price of gold', which is the best performing asset class this year. H&T said any 'significant adverse movement in the gold price from the recent historic highs… could impact the business'. Gold is up more than 22 per cent since the start of the year and around 40 per cent over the last 12 months at $3,237.50'oz. H&T added: 'The uncertain macroeconomic and fiscal outlook for the UK is expected to benefit the H&T Group's pawnbroking activities, but there is a risk of adverse impact on retail and travel money revenue streams.' Its board also believes the offer represents a lucrative opportunity for shareholders while providing the firm with the 'support and backing of a large, well-resourced and well-capitalised, international platform' that significantly improves the strategic positioning of H&T in its marketplace Chris Gillespie, chief executive, added: 'The acquisition has a compelling strategic rationale, bringing together two businesses with complementary offerings focussed on the values and benefits of their customers.' FirstCash boss Rick L. Wessel said: 'This strategic transaction provides an entry into a significant new market, which we believe will unlock additional growth opportunities for FirstCash. 'We have great confidence in H&T's continued success, given their proven track record, coupled with their experienced management and operations team.'
