A HIGH street pawnbroker is anticipating stronger financial results after a healthy trading period.

Ramsdens Holdings today (Tuesday, April 10) revealed its performance should be “slightly ahead of expectations” for the year to March 31.

Bosses’ confidence comes after the business, which runs its head office out of Coulby Newham, near Middlesbrough, enjoyed a strong second half to its financial year.

The update also comes after the firm revealed in November that its increasing focus on luxury jewellery and foreign currency was helping shed its traditional image and pushing it further into customers’ consciousness.

The firm complements traditional loan services with sales of new and second-hand jewellery, including Rolex watches and bracelets worth thousands of pounds, and a foreign exchange division.

According to results for the six months to September 30, those three strands provided a financial boost, with pre-tax profit 63 per cent better off than a year ago at £5.2m.

Group revenue was 18 per cent higher at £21.8m.

Retail revenue across the business’ jewellery venture was also up 40 per cent, to £3.5m.

At the time, Peter Kenyon, chief executive, told The Northern Echo: “The jewellery proposition is getting better and we have come a long way.

"We are still learning and getting better at things, and we can extract diamonds (from unwanted products), get them re-set into fashionable goods and offer them at keen prices.

“We are constantly striving to improve the offer in stores and online, and the board believes there is significant growth potential by cross-selling to customers of other services.”

The firm, which has its name emblazoned on the shirts of Middlesbrough FC, runs a 100-plus UK store estate, with outlets based in Darlington, Bishop Auckland, Middlesbrough, Stockton and Newton Aycliffe, County Durham.