leadf
logo-loader
viewH&T GROUP PLC

H&T moving to take interest repayments and make cash advances via online portal

The decision not to pay a final dividend strengthens the board's view that the group remains appropriately capitalised with recurring strong cash flows during this extraordinary time

H&T GROUP PLC -
H&T described the current crisis as an "exogenous shock"

H&T GROUP PLC (LON:HAT) has unilaterally declared an interest holiday on outstanding secured loans while its stores are closed or until further notice.

The pawnbroking company is doing its bit to support its customers during what it described as a “challenging period”.

In the meantime, it is in the process of arranging to be able to accept online repayments and to make cash advances via an online portal.

In line with many other companies, especially those operating on the high street, H&T has instigated a number of cost-saving measures, including the withdrawal of the recommendation to pay a final dividend in respect of the fiscal year just ended.

The chief executive officer and the chairman will have their remuneration halved for as long as the group’s branches remain closed.

“H&T has cash on hand and unutilised headroom on its banking facility, together with stocks of gold jewellery; however, in the current extraordinary climate the board believes it is prudent to maximise the group's resilience in the face of this exogenous shock,” the company said.

Quick facts: H&T GROUP PLC

Price: 269 GBX

LSE:HAT
Market: LSE
Market Cap: £107.23 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of H&T GROUP PLC named herein, including the promotion by the Company of H&T GROUP PLC in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

H&T Group 'back in business' and ready to grow says CEO John Nichols

H&T GROUP PLC (LON:HAT) CEO John Nichols says despite the tough trading environment the company is now in a 'really strong position' moving forward. The impact of coronavirus meant that stores were closed and staff were furloughed but thanks to a debt free balance sheet he says the...

on 11/8/20

2 min read