H&T Group PLC Trading Update and Notice of Results (1180R)
04 July 2022 - 4:00PM
UK Regulatory
TIDMHAT
RNS Number : 1180R
H&T Group PLC
04 July 2022
4 July 2022
H&T Group PLC ("H&T" or the "Group")
Trading Update and Notice of Results
H&T Group PLC ("H&T" or the "Group"), the UK's largest
pawnbroker and a leading retailer of
new and pre-owned jewellery and watches, today issues a trading
update prior to the announcement of its interim results for the six
months ended 30 June 2022, which are expected to be published on
9(th) August 2022.
Demand for pledge lending has continued to gather momentum in
the first half of the year. The pawnbroking pledge book at 30 June
2022 was GBP84.2m (30 June 2021: GBP48.3m and 31 December 2021:
GBP66.9m) with growth across the Group's customer base and in all
geographies. Pledge lending remains at record levels, with
incremental growth month on month over the period. Lending volume
is currently over 40% above pre-pandemic levels. Average loan
sizes, loan to value ratios and redemption rates have been
maintained.
Retail sales have been consistently strong and are in line with
expectations.
Gold purchasing has been buoyant, supported by a rising gold
price which has driven both volumes and improved margins.
Foreign currency revenues have more than doubled in H1 2022 as
international holiday travel returns, with transaction volumes back
close to pre-pandemic levels.
Chris Gillespie, Chief Executive Officer of H&T, said:
"I am delighted with the progress we have made in the first half
of 2022, and the momentum with which we enter the second half of
the year. I look forward to updating the market fully when we
report on the 9(th) of August."
Enquiries:
H&T Group PLC Via Almar PR
Chris Gillespie, Chief Executive
Di Giddy, Chief Financial Officer
Shore Capital Ltd (Nominated Advisor and Broker) +44(0)20 7408
4090
Stephane Auton/Iain Sexton (Corporate Advisory)
Guy Wiehan/Chloe Brooker-Triolo (Corporate Broking)
Almar PR (Public Relations) +44 (0)20 3405 0205
Sam Modlin handt@almarpr.co.uk
Andy Bryant
Lily Soares-Smith
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END
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