Ramsdens is a diversified, financial services provider and retailer, operating in the four core business
segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing
of second hand and new jewellery. Headquartered on Teesside, and from roots that can be traced
back to the 1970s, the Group operates from over 160 stores within the UK (including one franchised store) and
has a growing online presence.
VIDEO: The Ramsdens Way - Background to where we have come from and where are we going:
Ramsdens is fully authorised by the FCA for its consumer credit activities of pawnbroking and credit broking and as an authorised payments institution.
Ramsdens grew significantly between 2009 and 2013, investing heavily in the Ramsdens brand, its core
service lines and store estate. Following a change in market conditions, including a material fall in the gold
price, the management team reacted decisively to focus on cash generation from the existing store estate.
In 2014, a management buyout facilitated the retirement of the Smith family owners and provided the funding that enabled the Group to repay its bank debt at the time and management to update its strategy. Following this, in February 2017, the Group was admitted to AIM.
The Group’s strategy has focussed on growing profits from the existing store estate through investment in the foreign currency exchange and jewellery retail segments, acquiring pawnbroking loan books and optimising cash generation with the ultimate aim of creating a well balanced, resilient business from which to generate further growth, both organically and by acquisition. In addition the Group has invested in product specific websites, namely; www.ramsdensjewellery.co.uk; www.ramsdenspawnbrokers.co.uk; www.ramsdenscurrency.co.uk; and www.ramsdensgoldbuying.co.uk.
The Directors believe that the Group’s key strengths are:
- a good record of cash generation and a strong balance sheet;
- an experienced and motivated senior management team with a clear growth strategy;
- a recognised brand benefiting from significant investment including sports sponsorship and TV
advertising;
- a diversified and complementary offering of products and services appealing to a broad demographic;
- a well invested branch estate and central infrastructure to support growth, including a market leading
IT system; and
- a large, growing and high repeat customer base.
Our diversified income streams and our strong financial base have allowed the Group to successfully trade through the pandemic and the challenging economic conditions seen in recent years. We believe we have made good progress as a business and are well positioned for the future particularly with regards to our well-invested staff development and our pipeline of new stores.
The Board has continued optimism for the future and confidence in our ability to deliver on our growth strategy for the long-term benefit of all our stakeholders.