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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
H&t Group Plc | LSE:HAT | London | Ordinary Share | GB00B12RQD06 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-6.00 | -1.39% | 427.00 | 423.00 | 439.00 | 427.00 | 427.00 | 427.00 | 61,860 | 16:35:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 220.78M | 21.08M | 0.4793 | 8.91 | 187.83M |
TIDMHAT
RNS Number : 7149B
H&T Group PLC
09 January 2015
9 JANUARY 2015
H&T GROUP PLC
TRADING UPDATE
H&T Group plc ("H&T" or "the Group"), which trades under the H&T Pawnbrokers and est1897 brands, today issues a trading update prior to the announcement of its preliminary results for the year ended 31 December 2014. H&T expects to report its preliminary results for the year ended 31 December 2014 on 5 March 2015.
The Board expects full year profit before tax to be in line with current market consensus expectations.
The impact of low gold prices, competition and regulatory change have combined to place the business under significant pressure in 2014. Despite this backdrop, the business has generated strong cash flows and has continued to implement a range of strategies and measures to improve performance going forward.
The pledge book reduced by 12.7% to GBP38.5m as at 31 December 2014 (2013: GBP44.1m) principally as a result of the competitive environment and reduced lending rates. The pledge book has stabilised over the last six months and on a like-for-like basis the pledge book reduced by just GBP0.3m from 30 June 2014.
The Group's focus on retail sales as a more effective means of disposition has continued to deliver growth. Q4 2014 like-for-like retail sales increased 10.5% against Q4 2013 with gross profits increasing by 7.4% period on period.
The Board expects that the current challenging market will accelerate the industry consolidation and rationalisation that we believe is necessary in the short term. During the year the Group closed eight underperforming stores, opened one new H&T Pawnbrokers, acquired one established pawnbroking store and opened three stand-alone est1897 retail outlets. At 31 December 2014 the Group operated from 191 stores, comprising 152 H&T Pawnbrokers stores and 39 est1897 retail stores.
The Group continued to de-risk its balance sheet in 2014 by reducing borrowings, with net debt at year end of GBP9.7m (2013: GBP20.8m).
For further information, please contact:
H&T Group plc Tel: 0870 9022 600 John Nichols, Chief Executive Steve Fenerty, Finance Director Numis Securities Tel: 020 7260 1000 Etienne Bottari / Freddie Barnfield - Nominated Advisor Mark Lander - Corporate Broking
This information is provided by RNS
The company news service from the London Stock Exchange
END
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