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H&T upgrades annual profit forecast following stronger end to year
StockMarketWire.com
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Pawnbroking group H&T said full-year pre-tax profit was expected to be ahead of market expectations following stronger-than-anticipated performance in November and December.
Retail jewellery sales during H2 were 'strong, particularly in December, and for the six months to the year-end were only 6% below prior year,' the company said.
Returns from precious metal scrappage were 58% up on prior year, reflecting the high gold price, it added.
The year-end pledge book, meanwhile, was £48 million, in line with the figure reported in the 5th November update, with a 'resilient' performance building through Q4.
Almost all of the 253 stores remain open, albeit with shortened trading hours, the company said.
Story provided by StockMarketWire.com
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