Ramsdens raises profit forecast amid record price of gold

Ramsdens Holdings has announced that its profit before tax for the 2026 financial year is expected to surpass £21m, up from £16.2m in 2025. 

The revised forecast is ahead of previous market expectations of £18.6m. The group attributed the performance to record high gold prices, which have increased by approximately 20% since the start of the financial year. The company reported a significant increase in the volume of precious metals purchased from customers, particularly since January 2026.

Pawnbroking lending reached record levels in January, though the company stated it continues to lend conservatively against gold values. 

Jewellery retail performed well both in-store and online, supported by the launch of a new website at the end of January.

However, foreign currency trading remained flat year on year, with a shift toward lower-margin digital services and multi-currency card sales. 

The company remains on track to open between eight and 12 new stores during the current financial year, with new sites in Wakefield and Hull reported to be trading in line with expectations.

Peter Kenyon, chief executive, said: “Ramsdens’ proposition continues to resonate with consumers whether they’re looking for new or used jewellery, seeking the best rates for money to take abroad, looking to secure a short-term asset backed loan, or wanting to get cash for their unwanted gold.

“Whilst still relatively early in the financial year, as a result of the strong momentum across our business, the Board now anticipates profit before tax for FY26 to be ahead of current market expectations. We’re making good progress in expanding our estate and are on track to open between eight and 12 new stores this year.”