H&T Group Plc pleasantly surprised by strong growth in its pledge book

John Nichols, chief executive of H&T GROUP PLC (LON:HAT), discusses the pawnbroking firm's first half 2018 numbers.

Profit before tax in the six months to the end of June rose 10.9% to £6.1mln from £5.5mln the year before, on revenue that climbed to £68.5mln from £57.7mln.

The net pledge book, including accrued interest, increased by 8.6% to £47.8mlm from £44.0mln in the first half of 2017, while the personal loan book shot up 78% to £17.8mln from £10.0mln.

Nichols says he's particularly loving how their retail site - www.est1897.co.uk - is coming along, '' We've got a lot of opportunity there … we've already made the sales this year that we did in the full year last year … a new site is coming  and due to launch this week and it's working well''.

''Customers are seeing that we do offer value and that really is the answer …. it's a good value proposition'', he adds.

Quick facts: H&T GROUP PLC

Price: 330 GBX

Market: LSE
Market Cap: £131.13 m

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