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H&T Group in line with forecasts

By BFN News | 07:40 AM | Thursday 07 July, 2016


Pawnbroker H&T Group expects full year profit before tax to be in line with market consensus forecasts. The group says it has made a good start to the year, maintaining the pledge book and producing strong year-on-year growth in the Personal Loans and Other Services segments. The board is encouraged by the development of the balance sheet as the combined pledge and Personal Loans books increased by 10.8% to £45.2m (30 June 2015: £40.8m). The development of a new format for pawnbroking services focused on larger loans at lower interest rates enabled the Group to increase the pledge book by 4.3% to £39.0m (30 June 2015: £37.4m). In line with management's expectations the Personal Loans book increased by 82.4% to £6.2m (30 June 2015: £3.4m) as H&T establishes the product in the store estate through staff training, systems and local marketing. And it says the recent increase in gold price, if maintained, will benefit the group. During the period the group closed three underperforming stores; at 30 June 2016 the Group operated from 186 stores, comprising 149 H&T Pawnbrokers stores and 37 est1897 retail focused stores. Story provided by StockMarketWire.com

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