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23 Jan 2019 | 13:32

H&T Group sees profits in line amid higher lending, jewellery sales

Pawnbroker H&T Group said it expected to post full-year profits in line with market expectations following a strong fourth-quarter performance.

The company said its lending book had increased 8%,due to increased customer numbers and more loans on watches.

There had also been a 35% increase in the personal loan book, 7% sales increase in the retail jewellery business and 22% income growth in the foreign exchange segment.

'We continued to make good progress in delivering our strategy in the past year, particularly in developing our digital capability to complement our store estate,' chief executive John Nichols said.

'We have also seen growth in our secured pawnbroking lending, primarily driven by increased customer numbers.'

'Our personal loan product offering has also been refined with a focus towards in-store lending, with more customers qualifying for our lower cost loans.

'The growth in retail sales has come through an expanded range of new jewellery and the development of both click-and-collect and online sales'.

'We are particularly pleased with the growth of our foreign exchange proposition.

'The group's performance over the past three 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.'

At 1:32pm: (LON:HAT) HT Group PLC share price was +16.5p at 285.5p

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