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H&T's earnings

By BFN News | 07:25 AM | Tuesday 16 August, 2016

H&T Group, which trades under the H&T Pawnbrokers and est1897 brands, reports an H1 pre-tax profits of £3.7m, up 42.3% up on last time. The pledge book increased by 4.3% to £39.0m and the personal loan book increased 85.3% to £6.3m. Other highlights: - Net debt fell by 22.5% to £6.9m - Pawn Service Charge down 1.4% at £14.1m (H1 2015: £14.3m) - Other Services income increased 68.8% to £2.7m (H1 2016: £1.6m) - Interim dividend of 3.9p (2015 interim: 3.5p) The group said: "The trading environment remains challenging for the sector with most large businesses reporting losses and being forced to significantly restructure their operations. H&T had anticipated many of these changes and had adjusted its business model and investment approach accordingly. As a result, we have fared relatively well over the last two years. "The Group has made good progress realigning the business to capture the opportunities presented by the continuing changes in the wider market. In particular the developments in the Personal Loan and Buyback products support the core proposition of providing easy access to cash and extend our reach into new customer segments. "In the medium term we will develop these areas further by integrating the online and offline services to provide a clear proposition to the consumer irrespective of how they access our services." Story provided by

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