H&T profit jumps on higher pawnbroking revenue

Tue, 10th Mar 2020

Pawnbroking company H&T reported a jump in profit as revenue increased by more than quarter driven by increased pawnbroking revenue and higher personal loans activity. For 2019, pre-tax profit rose 45.7% to £20.1m on-year as pawnbroking revenue increased by 26.2% to £39.0m, with the pledge book increasing 38.8% to £72.2m from £52.0m. Retail delivered sales grew 8.4% with gross profits increasing by 3.0% from £13.2m to £13.6m. The group's financial position was 'strong' with growth in the pawnbroking loan book rising to £72.2m from £52.0m, the company said. 'Further growth in pawnbroking has primarily been driven by increased customer transactions and the opportunity to serve more customers following the acquisitions made during the year,' it added. At 8:30am: (LON:HAT) HT Group PLC share price was +23.5p at 329p Story provided by StockMarketWire.com

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