Half year profits down for pawnbroking group
Pawnbrokers H&T Group saw profit drop slightly for the first six months of this year.
The group, which has 253 shops including several in the Black Country and one in Kidderminster, reported pre-tax profit of £4.7 million compared to £5m a year before.
It said it was a robust performance against a background of Covid-19 related trading restrictions from January to April and reduced high street custom throughout the period
Retail sales were up 26.5 per cent to £12.4m and pawnbroking revenue rose 10.1 per cent to £18.5. The group's personal loan book was down 66 per cent to £3.4m.
Chief executive Chris Gillespie said: "H&T has traded strongly since April's progressive relaxation of the pandemic restrictions. Pledge lending is steadily returning to normal levels and demand for our value for money, high quality jewellery and watches has been particularly strong.
"Right across the business, our colleagues have done an amazing job throughout the pandemic, ensuring we meet customers' needs whether in stores, over the telephone or increasingly, online. Both our websites are now refreshed, and we continue to invest in improving our IT systems to better support colleagues, and in expanding our reach and appeal across all appropriate channels for our customers."
