imutual.co.uk

Our Performance: +29.7%
Current Buy: 240.30
Current Year High: 246.00 [01/01/2020]
Current Year Low: 157.50 [01/01/2020]
Current Dividend Yield: 3.00% [01/01/2020]

AAAlphaThunder wrote: ↑

Wed Apr 08 2020 12:22pm

As I write, Ramsdens, up +37.8%, 251p.

garindan wrote: ↑

Wed Apr 08 2020 1:08pm

AAAlphaThunder wrote: ↑

Wed Apr 08 2020 12:22pm

As I write, Ramsdens, up +37.8%, 251p.

I think you must've been up all night and been drinking too much coffee sir! It looks to be 114p from checking only a few moments ago. I got very excited for a minute!

As I write, Ramsdens, up +37.8%, 251p.

Ramsdens Holdings was flying high until the coronavirus outbreak. The Middlesbrough-based pawnbroking, jewellery and foreign exchange group declared a 30 per cent rise in profits to £8.5million for the year to March 31.

Ten new stores were opened, taking the total to 159. Every division was doing well and the firm made a tidy profit from buying and selling gold as well.

However, stores have been closed since late March, and brokers expect sales and profits to fall over the coming months as a result.

Midas recommended Ramsdens in December 2018 when the price was £1.66. By October last year, the shares had risen to £1.94 and we suggested selling half. By January, the stock had hit £2.40, but last week, it closed at £1.51.

The performance is disappointing but prospects are brighter than the price suggests. Stores will start to reopen next month, and the pawnbroking trade is likely to be brisk. Even if jewellery sales flag, the company should be able to make up some of the shortfall from buying and selling gold.

Are my funds protected by FSCS? No.
The Financial Services Compensation Scheme (FSCS) only applies to certain types of activity which does not include issuing electronic money or payment services.

Whilst the FCA does not protect funds, the update on Ramsdens website suggests the funds must be held (under FCA rules) in safeguarding accounts, and that Ramsdens have received confirmation that this has been done. https://www.ramsdensforcash.co.uk/Ramsd ... NS-LTD.pdf

From the FCA website: Is there a chance I won’t get my money back? What is safeguarding? Safeguarding is a key consumer protection measure within the EMRs and the PSRs. The purpose of safeguarding is to protect and return customer money if a firm was to fail. Wirecard is required under the EMRs to maintain appropriate measures to safeguard customers money. It does this by holding it separate from its own money in accounts with banks (or another credit institution). Effective safeguarding arrangements are critical to help ensure that customers’ money is protected and returned if a firm fails. Adequate safeguarding arrangements which are compliant with the regulatory requirements are a condition of Wirecard’s ongoing FCA authorisation. https://www.fca.org.uk/news/news-storie ... horisation

garindan wrote: ↑

Mon Nov 02 2020 4:46pm

I think we should be looking to move all our remaining cash into Ramsdens. What do others think? Massively strong ballance sheet and reserves in gold, considering the situation.