H&T Group Plc (HAT.L), a non-trading holding company for Harvey & Thompson Limited and H&T Finance Limited, on Monday said it expects full- year profit before tax to be in line with current market expectations.
In its pre-close trading statement for the year ended December 31, the company noted that its core pawnbroking operations continue to perform well. At the year-end, the company's pledge book was 51.6 million pounds driven by both new store openings and the firm stratifying its interest rates to become more competitive on larger loans.
As expected, gold purchasing profits are down year on year predominantly due to a decline in margin. Underlying volumes for the second half however have been relatively stable, and gold purchasing is expected to remain as a steady source of profitability and cash flow, albeit at lower levels than in recent years.
H&T expects to report its preliminary results on March 7.
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