H&T Group PLC Trading Update (5158L)

TIDMHAT

RNS Number : 5158L

H&T Group PLC

12 January 2016

12 January 2016

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 2015. H&T expects to report its preliminary results for the year ended 31 December 2015 on 3 March 2016.

The Board expects full year profit before tax to be broadly in line with current market consensus expectations.

The Group has delivered a solid trading performance in the year, maintaining the pledge book and producing year-on-year growth in the Retail, Personal Loans and Other Services segments. Cash generation has been strong during the year and resulted in net debt at year end of GBP2.1m (2014: GBP9.7m).

The pledge book increased by 1.3% to GBP39.0m as at 31 December 2015 (2014: GBP38.5m). The pledge book has stabilised over the last 18 months as the pawnbroking market adjusts to the new trading environment.

During the year the Group closed two underperforming stores, at 31 December 2015 the Group operated from 189 stores, comprising 150 H&T Pawnbrokers stores and 39 est1897 retail focused stores.

ENDS

For further information:

H&T Group plc

Tel: [phone]

John Nichols, Chief Executive

Steve Fenerty, Finance Director

Numis Securities (Broker and Nominated Adviser)

Tel: [phone]

Etienne Bottari / Freddie Barnfield - Nominated Adviser

Mark Lander - Corporate Broking

Haggie Partners (Public Relations)

Tel: [phone]

Damian Beeley

Brian Norris

This information is provided by RNS

The company news service from the London Stock Exchange

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January 12, 2016 02:00 ET (07:00 GMT)