H&T full year profits to be ahead of forecasts
H&T Group has said it put in a strong fourth quarter performance in its pawnbroking and retail businesses and now expects its full year pre-tax profit to be above current market expectations.
The quarterly performance helped the company’s pledge book to increase by 11.6% to £46.1 million in the year to 31 December as a result of the higher gold price, its concession format and an increase in loans on quality watches.
Meanwhile, its personal loans book rose by 94.7% to £18.3 million.
John Nichols, H&T chief executive, said: “We have improved retail through an expanded range of new jewellery and the development of both click-and-collect and online sales.
“The group’s performance over the past two years demonstrates the success of our strategy to access new customers and markets. Demand for our products remains strong and we look to the future with confidence.”
