REG - H&T Group PLC - AGM Trading Update

H & TAnnouncement

16/05/2024 07:00

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RNS Number : 6135O  H&T Group PLC  16 May 2024

16 May 2024

 

H&T Group plc

("H&T", the "Company" or the "Group")

AGM Trading Update

H&T Group plc, the UK's largest pawnbroker and a leading retailer of high
quality new and pre-owned jewellery and watches, is pleased to provide the
following update for the four months trading period from 1 January 2024 to 30
April 2024 ("the period"), ahead of the Group's Annual General Meeting ("AGM")
being held at 13:00 today.

The AGM will also be hosted digitally via a webinar. Shareholders can
pre-register for live viewing of the meeting at
https://handt.co.uk/pages/investor-relations
(https://url.avanan.click/v2/___https:/handt.co.uk/pages/investor-relations___.YXAxZTpzaG9yZWNhcDphOm86MTE2YjUxMGM5MGQxN2U3ZDE0MjFlZTBiYTBmM2FiYjc6Njo5MTFiOmQ3NzgwOTZkMjQ4NGNkZTU1NTEzYmYzMzdjNjBkNWQ3ODAxZmZmODU5NWEyMDRjZDIzN2EzMTY5NmQyNTY5Mzg6cDpG)
.

Trading Update

Trading performance has been in line with expectations during the period.

Demand for pledge loans continues to be buoyant and April 2024 was a record
month for lending. Consistent with last year, redemptions in March and April
were higher than average as customers chose to collect their items, often to
wear them at religious and family celebrations. This is expected to reverse in
the coming months.

All key pledge book metrics remain in line with expectations. The Maxcroft
pledge book has performed well since acquisition. The capital value of the
Group's pledge book (excluding accrued interest and provisions) is currently
£105m (31 December 2023: £101m, 30 April 2023: £91m).

Retail sales and foreign currency revenues are in line with forecasts, with
retail margins improving as expected. Gold purchase and scrap revenues are
benefitting from a strong gold price.

Three stores have been added to the store estate so far this calendar year,
including Maxcroft, with one closure. The store estate currently stands at 280
stores.

Chris Gillespie, H&T Chief Executive, said:

"It is pleasing to be able to report a solid start to the year, with robust
demand across the Group's product offering. I look forward to updating the
market further as the year unfolds, and as always, I would like to pass on my
grateful thanks to our amazing colleagues for their hard work, dedication, and
unwavering commitment to customer service."

 

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 / Isobel Jones (Corporate Broking)

 Alma Strategic Communications (PR Advisor)                                                         +44(0)20 3405 0205

 Sam Modlin                                                                                         handt@almastrategic.com

 Rebecca
 Sanders-Hewett

 Andy Bryant

 Will Merison

 

 

 

 

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