GENERAL MERCHANDISE NEWS
H&T profits to beat expectations
3 November, 2016 | by Retail Bulletin
Pawnbroker H&T has announced that it expects pre-tax profit for the year to 31 December to be above the top end of market expectations.
The company said the main reason for the strong performance was the higher sterling gold price since the EU referendum result. The increased gold price benefits H&T’s pawnbroking scrap and gold purchasing segments.
H&T’s development of its lending activities is continuing and by 31 October the pledge book had increased to £40.5 million from £39 million at the end of June. There was also a rise in the personal loans book which climbed to £8.2 million from £6.3 million in June.
