7th Jul 2016 07:40
LONDON (Alliance News) - Pawnbroker and loan provider H&T Group PLC on Thursday said pretax profit for 2016 is set to meet market expectations.
The company said its pledge book has been maintained, and it saw strong year-on-year growth for its Personal Loans and Other Services divisions in the first half.
H&T said the development of a new format of pawnbroking services focused on larger loans at lower interest rates meant its pledge book increased to GBP39.0 million year-on-year at the end of June. The Personal Loans book increased 82% to GBP6.2 million, in line with expectations, as the service is established further in H&T stores.
H&T added the recent increase in the world gold price will benefit the company if maintained.
H&T will publish interim results on August 16.
Shares in H&T were down 5.1% to 258.10 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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