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The latest announcement is out from H&T Group plc ( (GB:HAT) ).
H&T Group plc reported a strong performance for the fourth quarter of 2024, with robust trading results that aligned with management expectations. The company saw a notable increase in demand for its core pawnbroking services, particularly in the final weeks of the year, leading to a significant growth in the capital value of its pawnbroking pledge book. Retail sales also met expectations, driven by increased demand for lower-priced jewelry and solid growth in watch sales. However, the company anticipates a temporary slowdown in pledge book growth in early 2025, with a rebound expected later in the year. Additionally, the recent UK Government’s increase in national insurance rates will impact H&T’s employment costs from April 2025, prompting the company to explore mitigation options.
More about H&T Group plc
H&T Group plc is the UK’s largest pawnbroker and a leading retailer of high-quality new and pre-owned jewelry and watches. The company provides a range of financial products tailored for customers with limited access to traditional banking services, including pawnbroking, retail, and foreign currency. With over 280 stores across the UK, H&T offers small-sum short-term non-recourse pawnbroking loans secured by pledged personal property such as gold, jewelry, and watches. Additionally, the company buys and sells gold, jewelry, and watches, and offers foreign currency exchange, international money transfer, third-party cheque encashment, and watch repair services.
YTD Price Performance: -3.24%
Average Trading Volume: 42,930
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £153.1M
Learn more about HAT stock on TipRanks’ Stock Analysis page.
