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H&T Group plc
UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30 JUNE 2014
H&T Group plc, which trades under the H&T Pawnbrokers and est1897 brands, today announces its interim results, for the six months ended 30 June 2014.
John Nichols, Chief Executive, commented: “Despite the intense competitive environment and the fall in the gold price, the Group has delivered a robust performance for the first half and we expect the full year results to be in line with market expectations.
Our focus on delivering excellent service in our bright and welcoming stores continues, with strong progress made in the development of personal loans and lending on other asset types.
We have dedicated, professional people delivering great service with the right range of products and are well placed to take advantage of the developments we expect in the market.”
KEY FINANCIAL RESULTS
Pledge book decreased by 20.8% to £38.5m (30 June 2013: £48.6m)
Pawn Service Charge decreased to £14.3m (H1 13: £14.7m)
Profit before tax of £2.0m (H1 13: £4.6m)
Basic EPS of 3.98p (H1 13: 9.22p)
Net debt reduced by 52.6% to £13.5m (30 June 2013: £28.5m)
Interim dividend of 2.1p (2013 interim: 2.1p)
Continued our retail success with sales growth of 49.3% in H1 14
Expanded the new est1897 Discount Secondhand Jewellery brand to 36 stores
Deployed the “Expert Eye” system into all stores to support specialist valuations
Development of the “We buy anything” proposition with an increase in Buyback purchases to £1.2m (H1 2013: £0.2m)
|H&T Group plc||Tel: +44 (0)870 9022 600|
|John Nichols, Chief Executive|
|Steve Fenerty, Finance Director|
|Numis Securities||Tel: +44 (0)20 7260 1000|
|Etienne Bottari / Freddie Barnfield – Nominated Advisor|
|Mark Lander – Corporate Broking|
|Bell Pottinger Financial & Corporate (Public relations)||Tel: +44 (0)20 7861 3232|
|Clinton Manning / Emma Kent|
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