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12 Mar 2019 | 10:10

H&T Group profits up 13% led by growth in pawnbroking segment

H&T Group said Tuesday profit before tax rose 13.4% led by growth in its secured pawnbroking lending, largely driven by increased customer numbers.

For the year ended 31 December 2018, pre-tax profits rose13.4% to £13.5m and earnings (EBITDA) rose 11.3% to £16.8m. The combined personal loan and pawnbroking loan books revenue rose to £72.5m from £62.4m a year earlier. Gross profits from pawnbroking increased 5.5% to £30.9m from £29.3m a year earlier and the pledge book increased 9.5% to £52.0m from £47.5m because of increased customer numbers and growth in higher value loans, in particular lending on higher carat gold and watches.

'The Group's performance over the past three years demonstrates the continuing success of our strategy to access more customers and markets. Demand for our products remains strong and with further improvements to our delivery capability underway, we look forward to the future with confidence,' the company said. At 10:10am: (LON:HAT) HT Group PLC share price was +12.5p at 297.5p

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