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H&T Investor Relations

Welcome to our investor relations centre. Here you will find up-to-date information on our share price and trading along with material of interest to existing and potential investors.

9 JANUARY 2015

H&T GROUP PLC - TRADING UPDATE

H&T Group plc (“H&T” or “the Group”), which trades under the H&T Pawnbrokers and est1897 brands, today issues a trading update prior to the announcement of its preliminary results for the year ended 31 December 2014. H&T expects to report its preliminary results for the year ended 31 December 2014 on 5 March 2015.

The Board expects full year profit before tax to be in line with current market consensus expectations.

The impact of low gold prices, competition and regulatory change have combined to place the business under significant pressure in 2014.  Despite this backdrop, the business has generated strong cash flows and has continued to implement a range of strategies and measures to improve performance going forward.

The pledge book reduced by 12.7% to £38.5m as at 31 December 2014 (2013: £44.1m) principally as a result of the competitive environment and reduced lending rates.  The pledge book has stabilised over the last six months and on a like-for-like basis the pledge book reduced by just £0.3m from 30 June 2014.

The Group’s focus on retail sales as a more effective means of disposition has continued to deliver growth.  Q4 2014 like-for-like retail sales increased 10.5% against Q4 2013 with gross profits increasing by 7.4% period on period.

The Board expects that the current challenging market will accelerate the industry consolidation and rationalisation that we believe is necessary in the short term.  During the year the Group closed eight underperforming stores, opened one new H&T Pawnbrokers, acquired one established pawnbroking store and opened three stand-alone est1897 retail outlets.  At 31 December 2014 the Group operated from 191 stores, comprising 152 H&T Pawnbrokers stores and 39 est1897 retail stores.

The Group continued to de-risk its balance sheet in 2014 by reducing borrowings, with net debt at year end of £9.7m (2013: £20.8m).

For further information, please contact:

H&T Group plc  Tel: 0870 9022 600
John Nichols, Chief Executive  
Steve Fenerty, Finance Director  
   
Numis Securities             Tel: 020 7260 1000
Etienne Bottari / Freddie Barnfield – Nominated Advisor  
Mark Lander – Corporate Broking  
   

August 2014

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)

OPERATIONAL HIGHLIGHTS
 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)

 

Enquiries: 

 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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