Leading pawnbroker H&T Group PLC (AIM:HAT) has seen a “robust” demand for its services in an environment where small-sum credit continues to be constrained for consumers.
H&T stated that redemptions (when the customer retrieves their pledged item after repaying the loan amount) “have taken a little longer to moderate than we anticipated” following a pick up in spring, but have since moderated through June and into July.
Pledge book value (excluding accrued interest and provisions) was £105 million as of 30 June, up from £95 million from a year ago
“All key pledge book metrics remain in line with expectations,” said the group.
Chief executive Chris Gillespie added: "I am pleased to report that overall, trading performance in the first six months of the financial year has been in line with our expectations.
“I look forward to updating the market fully when we announce the Group's Interim Results on 20 August."
In May, H&T made it into broker Shore Capital Market’s list of top income and growth stocks.
Shore Cap noted that H&T’s jewellery retailing business has benefitted from a growing appetite for second-hand jewellery, while the FX business, which is expanding into other ancillary services, has aided high-street footfall.