TIDMHAT

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.GBP99m as at the end of December 2022 (December 2021: GBP66.9m). 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.GBP48m (2021: GBP36.2m). 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 
  Chris Gillespie, Chief Executive 
  Officer 
  Diane Giddy, Chief Financial 
  Officer                                   +44(0)20 8225 2700 
 Shore Capital Ltd (Nominated 
  Advisor and Broker) 
  Stephane Auton/Iain Sexton (Corporate 
  Advisory) 
  Guy Wiehahn/Chloe Booker-Triolo 
  (Corporate Broking)                       +44(0)20 7408 4090 
 Alma PR (Public Relations)                 +44(0)20 3405 0205 
  Sam Modlin                                handt@almapr.co.uk 
  Andy Bryant 
  Pippa Crabtree

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January 18, 2023 02:00 ET (07:00 GMT)

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