H&T Group (LON:HAT) reported a solid trading performance for the year, which saw its pledge book stabilise as the pawnbroking market adjusts to a new environment, it told investors.
The pledge book - the sum of all that it has loaned on - increased by 1.3% to £39mln as at the end of 2015, it revealed, compared to £38.5mln at the end of 2014.
The company, which has been in the business since 1897, expects full year profit before tax for 2015 to be broadly in line with current market expectations, it added.
"The group has delivered a solid trading performance in the year, maintaining the pledge book and producing year-on-year growth in the retail, personal loans and other services segments.
"Cash generation has been strong during the year and resulted in net debt at year end of £2.1m (2014: £9.7m)," it said in the update.
As reported last summer, the firm, like others in the pawnbroking business, is a hostage to fortune when it comes to the price of gold, but it had made a concerted effort to broaden its product offerings and services.
Pre-tax profit in the first half rose 30% to £2.6mln from £2.0mln previously, driven by the stabilisation of pawnbroking income and growth in retail, personal loans and other services.
During 2015, H&T closed two under-performing stores.
It now operates from 189 stores, comprising 150 H&T pawnbrokers stores and 39 est1897 retail focused stores.
The group's 2015 numbers will be posted on March 3.