REG - H&T Group PLC - Trading Update and Notice of Results

H & TAnnouncement

18/01/2023 07:00

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RNS Number : 9938M  H&T Group PLC  18 January 2023

18(th) January 2023

H&T Group PLC ("H&T" or the "Group")

Trading Update and Notice of Results

 

H&T Group Plc, the UK's largest pawnbroker and a leading retailer of high
quality new and pre-owned jewellery and watches, today provides an update on
trading following completion of its financial year ended 31(st) December 2022.

 

Trading performance remained strong through the fourth quarter of the year,
continuing the momentum seen across the business throughout the year. Demand
for pawnbroking loans, in particular, was buoyant. This performance resulted
in the pawnbroking pledge book growing to c.£99m as at the end of December
2022 (December 2021: £66.9m). Demand for pledge lending in early January 2023
has remained strong.

 

Retail sales in the important pre-Christmas trading period were robust.
December was a record sales month after a slightly quieter than anticipated
November, with watch sales being a particular December highlight. Full year
retail sales rose over 30% to c.£48m (2021: £36.2m). Foreign exchange and
other services continued to perform strongly.

 

The Group has continued its programme of capital investment in IT systems and
in the store estate. The new point of sale platform was successfully deployed
across all stores in line with planned timelines, and we have continued to
grow our store network. At the end of December, the Group had 267 stores (31
December 2021: 257) with a further nine locations in the pipeline and expected
to be opened in the first half of 2023.

 

The Board remains confident that full year results will be in line with
current market forecasts.

 

The Group expects to publish its preliminary results for the financial year
ended 31(st) December 2022 on Tuesday 7(th) March 2023.

 

 

Enquiries

 H&T Group plc                                                                              +44(0)20 8225 2700

 Chris Gillespie, Chief Executive Officer

 Diane Giddy, Chief Financial Officer

 Shore Capital Ltd (Nominated Advisor and Broker)                                           +44(0)20 7408 4090

 Stephane Auton/Iain Sexton (Corporate Advisory)

 Guy Wiehahn/Chloe Booker-Triolo (Corporate Broking)

 Alma PR (Public Relations)                                                                 +44(0)20 3405 0205

 Sam Modlin                                                                                 handt@almapr.co.uk

 Andy
 Bryant

 Pippa Crabtree

 

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