H&T Group Plc. (HAT.L) in its trading update, said that overall results are inevitably impacted by the highly volatile gold price, and market consensus has not yet reflected price movements since the Group last reported on 7 March 2013 when the gold price was 1,054 pounds.
The Board estimates that a 10% movement in the gold price will impact profit before tax by approximately 2 million pounds based on current business mix and gold price. In the medium term, the Group's business model presents an opportunity for a degree of hedging against a lower gold price through its ability to operate in the wholesale and retail markets.
The company stated that its recent new store openings continue to build their pledge book in line with original expectations, while the older stores continue to benefit from the recent interest rate stratification, albeit their performance has been impacted by an increasingly competitive environment.
The Group's Pawn Service Charge for fiscal 2013 remains in line with expectations set at the beginning of the year and the Group has not sought to increase short term profits to the detriment of its loan to value on the core pawnbroking product.
The company expects to report its interim results for the six months to 30 June 2013 on 20 August 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.