Trading Update and Notice of Results

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 £84.2m (30 June 2021: £48.3m and 31 December 2021: £66.9m) 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)  [phone]

Stephane Auton/Iain Sexton (Corporate Advisory)

Guy Wiehan/Chloe Brooker-Triolo (Corporate Broking)

Almar PR (Public Relations)  [phone]

Sam Modlin     [e-mail]

Andy Bryant

Lily Soares-Smith

 

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