Proactiveinvestors Australia H&T GROUP PLC https://www.proactiveinvestors.com.au Proactiveinvestors Australia H&T GROUP PLC RSS feed en Fri, 19 Jul 2019 13:53:35 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190712135941_14147201/ Fri, 12 Jul 2019 22:59:41 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190712135941_14147201/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190705173942_14139000/ Sat, 06 Jul 2019 02:39:42 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190705173942_14139000/ <![CDATA[RNS press release - Result of Placing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190702070008_14132391/ Tue, 02 Jul 2019 16:00:08 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190702070008_14132391/ <![CDATA[RNS press release - Acquisition and Placing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190701163501_14132042/ Tue, 02 Jul 2019 01:35:01 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190701163501_14132042/ <![CDATA[RNS press release - Notice of Annual Report Posting ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190621070004_14119160/ Fri, 21 Jun 2019 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190621070004_14119160/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190503070002_14061733/ Fri, 03 May 2019 16:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190503070002_14061733/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190423070008_14047501/ Tue, 23 Apr 2019 16:00:08 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190423070008_14047501/ <![CDATA[RNS press release - Director dealings and issue of equity ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190404160001_14029663/ Fri, 05 Apr 2019 02:00:01 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190404160001_14029663/ <![CDATA[RNS press release - Preliminary Results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190312070013_13998128/ Tue, 12 Mar 2019 18:00:13 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190312070013_13998128/ <![CDATA[RNS press release - Trading Update and Notice of Results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190123070005_13943389/ Wed, 23 Jan 2019 18:00:05 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190123070005_13943389/ <![CDATA[RNS press release - Performance Share Plan Awards ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190103070011_13922046/ Thu, 03 Jan 2019 18:00:11 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20190103070011_13922046/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20181121162156_13876030/ Thu, 22 Nov 2018 03:21:56 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20181121162156_13876030/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20181010120003_13823548/ Wed, 10 Oct 2018 22:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20181010120003_13823548/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180911070023_13785585/ Tue, 11 Sep 2018 16:00:23 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180911070023_13785585/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180814070004_13753866/ Tue, 14 Aug 2018 16:00:04 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180814070004_13753866/ <![CDATA[RNS press release - IFRS 9 Transition Document ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180727162352_13734860/ Sat, 28 Jul 2018 01:23:52 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180727162352_13734860/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180716161809_13719622/ Tue, 17 Jul 2018 01:18:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180716161809_13719622/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180620102532_13686932/ Wed, 20 Jun 2018 19:25:32 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180620102532_13686932/ <![CDATA[RNS press release - Director Dealings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180614173229_13680576/ Fri, 15 Jun 2018 02:32:29 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180614173229_13680576/ <![CDATA[RNS press release - Director Dealings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180613121925_13678326/ Wed, 13 Jun 2018 21:19:25 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180613121925_13678326/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180529161459_13658618/ Wed, 30 May 2018 01:14:59 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180529161459_13658618/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180529070015_13657090/ Tue, 29 May 2018 16:00:15 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180529070015_13657090/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180515070011_13640791/ Tue, 15 May 2018 16:00:11 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180515070011_13640791/ <![CDATA[RNS press release - AGM Results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180510101608_13636211/ Thu, 10 May 2018 19:16:08 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180510101608_13636211/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180510070010_13635555/ Thu, 10 May 2018 16:00:10 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180510070010_13635555/ <![CDATA[RNS press release - Board Changes ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180509070009_13633747/ Wed, 09 May 2018 16:00:09 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180509070009_13633747/ <![CDATA[RNS press release - Notice of annual report posting ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180404070002_13590472/ Wed, 04 Apr 2018 16:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180404070002_13590472/ <![CDATA[RNS press release - Director Dealings and Issue of Equity ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180329162123_13587720/ Fri, 30 Mar 2018 02:21:23 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180329162123_13587720/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180319161228_13572521/ Tue, 20 Mar 2018 03:12:28 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180319161228_13572521/ <![CDATA[RNS press release - Preliminary results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180313070002_13564106/ Tue, 13 Mar 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180313070002_13564106/ <![CDATA[Media files - H&T Group Plc continuing to grow after 'milestone year' ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8871/ht-group-plc-continuing-to-grow-after-milestone-year--8871.html Tue, 13 Mar 2018 12:43:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8871/ht-group-plc-continuing-to-grow-after-milestone-year--8871.html <![CDATA[News - H&T Group profits soar as personal loan book almost doubles ]]> https://www.proactiveinvestors.com.au/companies/news/193046/ht-group-profits-soar-as-personal-loan-book-almost-doubles-193046.html A booming personal loan book and strong sales of luxury second-hand watches and jewellery lifted pawnbroker H & T Group PLC (LON:HAT) last year.

Group profits jumped 45% to £14.1mln in 2107, helped by a near doubling of personal lending to £18.3mln while average impairment charges were also lower.

WATCH: H&T Group Plc continuing to grow after 'milestone year'

In pawnbroking, the pledge book rose by 11% over the year to £43.4mln outstanding on average.

Online jewellery was also strong said John Nichols, chief executive, with sales through the est1897.co.uk website rising ten-fold to £1mln.

After a sharp rise in the sterling price of gold immediately following Brexit, the pound has rallied and the effect was reversed in 2017 even though there was a rise in the amount of gold scrapped.

Nichols added H&T has taken steps to reduce exposure to gold price volatility in future.

Personal loans and our est1897.co.uk online jewellery sales were particular highlights, he added, and “there is significant scope to continue to grow these aspects of the business”.

"We have produced a strong trading performance which is due in no small part to the initiatives which we have implemented over the past few years."

Current trading for 2018 is in line with management expectations, the statement added.

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Tue, 13 Mar 2018 07:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193046/ht-group-profits-soar-as-personal-loan-book-almost-doubles-193046.html
<![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180301070018_13550187/ Thu, 01 Mar 2018 18:00:18 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180301070018_13550187/ <![CDATA[RNS press release - Statement regarding Finance Director Steve Fenerty ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180214163510_13533531/ Thu, 15 Feb 2018 03:35:10 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180214163510_13533531/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180125070002_13508660/ Thu, 25 Jan 2018 18:00:02 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180125070002_13508660/ <![CDATA[RNS press release - Trading update and notice of results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180108070003_13487654/ Mon, 08 Jan 2018 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20180108070003_13487654/ <![CDATA[Media files - H&T sees wallet bulge on personal loan surge ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8592/ht-sees-wallet-bulge-on-personal-loan-surge-8592.html Mon, 08 Jan 2018 15:47:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8592/ht-sees-wallet-bulge-on-personal-loan-surge-8592.html <![CDATA[News - H&T Group PLC raises profit expectations again after surge in personal loans ]]> https://www.proactiveinvestors.com.au/companies/news/189638/ht-group-plc-raises-profit-expectations-again-after-surge-in-personal-loans-189638.html Stop me if you have heard this before but H&T GROUP PLC (LON:HAT) has again raised profits guidance for the year just ended.

The pawnbroker had a strong fourth quarter and now expects full-year profit before tax to be above current market expectations.

READ: Pawnbroker H&T to beat full-year forecasts as strong trading momentum continues into second half

The fourth quarter saw the pledge book rise to £46.1mln, up 11.1% from the £41.3mln at the end of 2016, as a result of the higher gold price, the group’s concession format and an increase in loans on quality watches.

The personal loans book shot up by 94.7% to £18.3mln from £9.4mln at the end of the previous year as a result of H&T’s expansion of its longer-term, lower interest rate loan product.

“We have made real progress in delivering the strategy in the past year. We have expanded the range of personal loan products available to enable our customers to access cheaper loans and provide an opportunity to rebuild their credit score,” said John Nichols, the chief executive of H&T.

"We have improved retail through an expanded range of new jewellery and the development of both click-and-collect and online sales,” he added.

READ: Brokers raise forecasts after strong first half from H&T

Numis Securities responded by raising its 2017 profit before tax (PBT) forecast once again, from £12.8mln to £13.6mln.

Based on this year’s projected earnings per share, the shares trade on a multiple of just 10 times earnings, and the broker remains positive on the shares, encouraged as it is by the stability of the pledge book income, forecast momentum and clear progress in personal loans (PL).

“We continue to see the PL book as a significant incremental growth opportunity for H&T, and have been impressed with the way this new revenue stream has been developed and integrated into the group,” Numis said, as it reiterated its ‘add’ recommendation and 375p price target.

“Looking into FY18, we forecast PBT to increase to £14.5m. Although core Pawnbroking interest income is likely to see muted growth, we expect profit growth to be firmly underpinned by the full-year effect of improvements to the Retail operation and, most significantly, continued progress in the Personal Loan book,” the broker said.

Shares in H&T were up 4.1% at 340p.

--- adds broker comments and share price reaction ---

 

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Mon, 08 Jan 2018 08:04:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189638/ht-group-plc-raises-profit-expectations-again-after-surge-in-personal-loans-189638.html
<![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171130115113_13449487/ Thu, 30 Nov 2017 22:51:13 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171130115113_13449487/ <![CDATA[RNS press release - Director Dealings and Issue of Equity ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171128070004_13445484/ Tue, 28 Nov 2017 18:00:04 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171128070004_13445484/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171127141200_13445049/ Tue, 28 Nov 2017 01:12:00 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171127141200_13445049/ <![CDATA[Media files - H&T Group anticipating a strong finish to 2017 ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8363/ht-group-anticipating-a-strong-finish-to-2017-8363.html Tue, 14 Nov 2017 15:01:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8363/ht-group-anticipating-a-strong-finish-to-2017-8363.html <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171103070003_13419151/ Fri, 03 Nov 2017 18:00:03 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171103070003_13419151/ <![CDATA[News - Pawnbroker H&T confident about the future after 'milestone year' ]]> https://www.proactiveinvestors.com.au/companies/news/186711/pawnbroker-ht-confident-about-the-future-after-milestone-year--186711.html Pawnbroker H&T Group PLC (LON:HAT) enjoyed a “milestone year” in 2017 and is confident about the future as it invests in its products, staff and online offering to meet strong demand.

In the year ended 31 December 2017, the company saw gross profits jump 45% to £14.1mln thanks to a booming personal loan book and robust sales of luxury second-hand watches and jewellery.

Personal lending nearly doubled to £18.3mln while average impairment charges were also lower last year.

In pawnbroking, the pledge book rose by 11% to £43.4mln, supported by a higher gold price an increase in loans on quality watches.

Online jewellery was also strong with sales through the est1897.co.uk website rising ten-fold to £1mln.

Chief executive John Nichols said: “This has been a milestone year for H&T.”

He added: "Personal loans and our est1897.co.uk online jewellery sales are particular highlights, and there is significant scope to continue to grow these aspects of the business."

H&T responds to changing marketplace

Nichols said the group’s solid trading performance last year has come on the back of initiatives taken over the past few years.

The company has been refining its core operations and developing its credit and online services in response to a changing marketplace.

“Over the past few years our marketplace has changed dramatically,” Nichols said.

“We have adapted to this new environment, investing heavily in our staff, diversifying our product suite, building out our online proposition and realigning aspects of our business to reflect our customer base.”

H&T has also taken steps to reduce its exposure to the gold price volatility it has experienced since the Brexit vote.

Following a sharp rise in the sterling price of gold immediately after the Brexit vote, the pound has rallied and the effect was reversed in 2017 despite a rise in the amount of gold scrapped.

“Challenges remain, but we can look to the future with growing confidence,” Nichols said.

A long history

H&T, over 100 years old, is a simple business to understand, with pawnbroking lending as its core.

Much of the reason for its success and survival has been a willingness to branch out into other areas, such as personal loans, foreign exchange and retail.

The group remains committed to its High Street retail offering, and its H&T brand is the leading pawnbroking business in the UK, with stores across the nation.

In 2014, the group created its est1897 brand – the H&T Group (once known as Harvey & Thompson) has been around since 1897 – to sell antique, vintage and retro jewellery that looks as good as new.

"I think we can do much better (with est1897) and link it in more particularly with our online offering," Nichols told Proactive, meaning people will be able to look on the internet and order jewellery to be delivered to a store or at home.

A split between bricks and clicks, he explained.

Though late to the e-commerce party, Nichols said H&T is now catching up.

The loan arranger

H&T's personal loan product allows for loans of up to £5,000 over any term of up to three years based on affordability.

The group believes its personal loan product is cheaper and more flexible than most of the competition’s offerings, and each loan is manually vetted.

It intends to reduce the proportion of HCSTC loans over time as it expands its lower annual percentage rate, longer-term loans for its customers.

Meanwhile, the group's "buyback" division is attracting a younger demographic, typically 18-24 year-olds who have been cashing in electrical items and mobile phones.

H&T strategy paying off, says broker

Broker Numis has H&T on an ‘add’ rating with a target price of 400p and believes the company’s strategy is bearing fruit.

“We continue to be impressed by the controlled manner in which H&T has both diversified its revenue streams, and maintained momentum in its core pawnbroking operation against a difficult industry backdrop,” Numis said.

“With the shares trading on 10.5x FY18 price-to-earnings ratio, we see more to go for as H&T continues to reap the rewards of its successful investments and initiatives.”

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Fri, 03 Nov 2017 07:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186711/pawnbroker-ht-confident-about-the-future-after-milestone-year--186711.html
<![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171026165714_13410680/ Fri, 27 Oct 2017 02:57:14 +1100 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20171026165714_13410680/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20170906161122_13354143/ Thu, 07 Sep 2017 01:11:22 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20170906161122_13354143/ <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20170831133131_13347586/ Thu, 31 Aug 2017 22:31:31 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20170831133131_13347586/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.com.au/companies/rns/414/LSE20170815070002_13329717/ Tue, 15 Aug 2017 16:00:02 +1000 https://www.proactiveinvestors.com.au/companies/rns/414/LSE20170815070002_13329717/ <![CDATA[Media files - A 'good strong start' to 2017 for H&T Group ]]> https://www.proactiveinvestors.com.au/companies/stocktube/7928/a-good-strong-start-to-2017-for-ht-group-7928.html Tue, 15 Aug 2017 09:47:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/7928/a-good-strong-start-to-2017-for-ht-group-7928.html <![CDATA[News - Brokers raise forecasts after strong first half from H&T ]]> https://www.proactiveinvestors.com.au/companies/news/182435/brokers-raise-forecasts-after-strong-first-half-from-ht-182435.html The higher gold price gave a turbo boost to a business that was already motoring at pawnbroker H & T Group PLC (LON:HAT).

Profit before tax in the first half of 2017 rose 62.2% to £6.0mln from £3.7mln the year before.

Gold purchasing profits increased to £1.8mln from £1.5mln the previous year, on the back of increased volumes of gold scrapped, up 47.7% to £6.5mln from £4.4mln.

WATCH: A 'good strong start' to 2017 for H&T Group

Revenue rose to £49.05mln from £42.39mln in the corresponding period of 2016, with growth seen in all key segments.

The 87.3% growth in the personal loans book to £11.8mln (2016: £6.3mln) caught the eye, and chief executive John Nichols said there is scope for this sort of growth to be maintained.

“A combination of competitive pricing and increasing awareness has seen us establish ourselves in this market and customers are now actively seeking us out,” Nichols said.

In the core pawnbroking business, the gross pledge book rose 10.8% to £43.2mln from £39.0mln in the first half of 2016.

The higher gold price enabled the group to increase the lending rate per gram by around 9%, while H&T has seen an improvement in the quality watch segment of the book.

Net debt at the end of the reporting period stood at £11.5mln, up from £6.9mln a year earlier.

The interim dividend has been hiked by a little more than 10% to 4.3p from 3.9p.

Initiatives beginning to bear fruit

“The results reflect a series of initiatives beginning to bear fruit and a favourable gold price,” CEO John Nichols said.

“We have also broadened our product suite with the launch of our personal loan product providing APRs of less than 50%. This has taken many of our loyal customers on a journey which is now seeing them access longer term, lower cost loans.

“We have also expanded our collection of high-end watches and the investment we have made in the est1897.co.uk website means we are now well placed to cement our position in this marketplace. This is a milestone year in the history of H&T and the enhancements we have made across our business, which have redefined the pawnbroking model, allow us to look to the future with confidence," he added.

House broker Numis Securities responded to the half-year update by raising its full-year profit before tax forecast to £11.6mln from £10.8mln.

“Encouraged by the stability in the pledge book income stream, easing competitive backdrop, and clear progress in Personal Loans, we remain positive on H&T, continuing to believe that the business is successfully diversifying its revenue streams and building its business despite a challenging core pawnbroking market,” Numis said, as it reiterated its ‘add’ recommendation on the stock.

Meanwhile, broker finnCap said the results were ahead of its expectations and it expects to upgrade its full-year profits and earnings per share estimates by around 5%.

“This has been a milestone year for the company and the outlook statement is confident; however, this is not reflected in the share price, which has declined 6% while Ramsden has appreciated 68%. This is an opportunity for investors in a neglected stock,” the broker said.

The shares were up 8.7% at 291.25 in mid-morning trading.

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Tue, 15 Aug 2017 07:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182435/brokers-raise-forecasts-after-strong-first-half-from-ht-182435.html