Hardman & Co Research on H&T Group (HAT): Growing pawnbroking core will drive other services

Hardman & Co Research
Hardman & Co Research on H&T Group (HAT): Growing pawnbroking core will drive other services

23-Jan-2024 / 17:47 GMT/BST
The issuer is solely responsible for the content of this announcement.


Hardman & Co Research on H&T Group (HAT):

Growing pawnbroking core will drive other services
 

In our 15 March 2023 initiation, Pawnbroking royalty, with strong, profitable growth, and later notes, we have highlighted the strong market for pawnbroking and why H&T, as the market leader, is uniquely placed to take advantage of these opportunities. Subsequent to the initiation, we had raised our pledge book forecast twice, and we do so again with the latest trading statement. In this note, we explore how pawnbroking growth is a key driver to the retail offering,S pawnbroking scrap and gold purchase, with varying degrees of time lag. Like many in the retail space, H&T faced the challenge of customers focusing on lower-value, lower-margin items in the key run-up to Xmas 2023. We have cut 2023E PBT by £3m (11%).

 

Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/growing-pawnbroking-core-will-drive-other-services/

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Contact:

Mark Thomas



 

 

mt@hardmanandco.com

 

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About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.



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The issuer is solely responsible for the content of this announcement.


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1821395  23-Jan-2024 

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H&T Group (HAT)
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