H&T Group PLC Trading update and notice of results (1550B)
January 08 2018 - 1:00AM
UK Regulatory
TIDMHAT
RNS Number : 1550B
H&T Group PLC
08 January 2018
8 January 2018
H&T Group plc
("H&T" or "the Group" or "the Company")
TRADING UPDATE AND NOTICE OF RESULTS
H&T Group plc ("H&T" or "the Group") is pleased to
provide a trading update for the financial year ended 31 December
2017.
H&T expects to report its preliminary results for the year
ended 31 December 2017 on 13 March 2018.
The Board is pleased to announce that, following a strong
quarter four performance for pawnbroking and retail, we expect the
full year profit before tax to be above current market
expectations.
The Group has delivered another good performance in its lending
operations. The pledge book increased 11.6% to GBP46.1m (31
December 2016: GBP41.3m) as a result of the higher gold price, the
concession format and an increase in loans on quality watches. The
Personal Loans book has increased by 94.7% to GBP18.3m (31 December
2016: GBP9.4m) as a result of the expansion in our longer term,
lower interest rate loan product.
John Nichols, chief executive, said: "We have made real progress
in delivering the strategy in the past year. We have expanded the
range of personal loan products available to enable our customers
to access cheaper loans and provide an opportunity to rebuild their
credit score.
"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."
- ENDS -
Enquiries:
H&T Group plc
Tel: 0870 9022 600
John Nichols, chief executive
Steve Fenerty, finance director
Numis Securities (broker and nominated adviser)
Tel: 020 7260 1000
Mark Lander, corporate broking
Freddie Barnfield, nominated adviser
Haggie Partners (public relations)
Tel: 020 7562 4444
Damian Beeley
Brian Norris
This information is provided by RNS
The company news service from the London Stock Exchange
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