Pre Close Trading Update

Ramsdens Holdings PLC, the growing, diversified financial services provider and retailer, is pleased to provide an update for FY26 trading (year to 30 September 2026).

In line with the upgraded guidance in the Trading Update announced on 16 July 2026, the Board continues to anticipate that profit before tax for FY26 will be between £32m and £35m.

FY26 Highlights

 The average gold price in FY26 has been volatile but has remained significantly higher than FY25, up approximately 45% on an average basis. The average weight of gold purchased has been strong throughout FY26, up 40% on average compared to FY25. Purchase volumes have been strong, supported by both the high gold price as well as the Group’s increased investment in website and TV advertising campaigns. Volumes peaked in February/March and have since fallen back from those exceptional levels but remain elevated relative to longer run averages. Gross profit in the precious metals segment in FY26 has doubled to c£36m (FY25: £18m).

 Demand for pawnbroking loans has remained robust. The pawnbroking loan book, net of part payments, was £15.9m at the year-end (FY25: £11.5m). Repayment rates remain in line with historical performance and our loan to value against the gold price remains conservative being below 65%. The interest derived from the loan book growth provides us with positive momentum going into FY27.

 Despite the economic back drop, the jewellery retail segment performed strongly in FY26 both online and instore, and across all three key product areas of new jewellery, preowned jewellery and premium watches. FY26 Gross profit in jewellery retail was approximately 20% ahead of FY25 and margins have been maintained despite the increased gold input cost.

 The total currency exchanged has remained broadly in line with FY25, albeit at keener margins to drive footfall. We continue to see growth in our Ramsdens Mastercard® Multi Currency Card loads and have c60,000 cards in circulation which has offset a small reduction in cash currency exchanged.

 During FY26 we opened 10 new stores, in line with our target for the year. This includes one acquisition in Sheerness, alongside nine new stores in; Wakefield, Hull, Abergavenny, Newark, Skegness, Ashford, Hereford, Peterborough and Corby. We currently have new sites in St Helens and Leicester in shop fit. Whilst early into the year, we have a solid pipeline of additional new stores for FY27.

On 23 June 2026, Ramsdens and Chess Bidco Limited (“Bidco”) announced that they had agreed the terms of a recommended cash acquisition by Bidco, an indirect wholly-owned subsidiary of FirstCash Holdings, Inc. to acquire the entire issued and to be issued share capital of Ramsdens (the “Acquisition”) (the “Acquisition Announcement”). On 16 July 2026, Ramsdens and Bidco announced they had reached an agreement on a revised, final offer. This process is currently ongoing and remains subject to the approval of the Competition and Mergers Authority.

Peter Kenyon, Chief Executive, commented:

"Ramsdens has seen yet another solid year of progress in FY26, with full year profit set to be significantly higher than that generated in FY25. This performance reflects the core strength of the Group’s diversified income model and our continued focus on delivering first class services to our customers, with the added benefit of the sustained high gold price supporting our precious metals division in particular.

The recommended offer from Bidco had the potential to cause distractions, but I am proud of how our team has continued to deliver a great service for our customers and I want to thank my colleagues for continuing to perform at an exceptionally high standard throughout the year. This has been supported by the Group’s very strong foundations: a strong balance sheet, good cash generation, and a return on capital of over 20%.

We start FY27 with optimism for another good year and remain confident of Ramsdens’ future growth prospects. We are expanding our store network and continue to invest heavily in our market leading IT system as well as developing our people – which resulted in Ramsdens being recognised in The Sunday Times’ Best Places to Work awards.”

Profit Estimate

The following statement in this announcement in relation to the anticipated Group profit before tax for FY26 constitutes a profit estimate for the purposes of Rule 28 of the Code (the "Profit Estimate").

“In line with the upgraded guidance in the Trading Update announced on 16 July 2026, the Board continues to anticipate that profit before tax for FY26 will be between £32m and £35m.”

The Panel has confirmed that the Profit Estimate constitutes an ordinary course profit forecast for the purposes of Note 2(b) on Rule 28.1 of the Code and has granted a dispensation from the requirement to include reports from reporting accountants and Ramsdens' financial adviser in relation to the Profit Estimate, on the basis that Bidco has provided its consent to doing so, as contemplated by Note 2(b) on Rule 28.1. The requirements of Rule 28.1(c)(i) of the Code therefore apply.

Directors' confirmation

The Ramsdens Directors have considered the Profit Estimate and confirm that it remains valid as at the date of this announcement and has been properly compiled and that the basis of accounting used is consistent with Ramsdens' existing accounting policies.

Basis of preparation and assumptions

The Profit Estimate is based on Ramsdens' internal unaudited management accounts for the financial year ended 30 September 2026. The basis of accounting used in the Profit Estimate is consistent with the existing accounting policies of Ramsdens in accordance with UK adopted international accounting standards. As the Profit Estimate relates to the FY26 financial year ended 30 September 2026, it is not based on any assumptions.