Hardman & Co Research / GB00B12RQD06
20.08.2024 - 12:50:03Hardman & Co Research on H&T Group: 1H’24 results - Four-one at half time, but the one wins
| Hardman & Co Research Hardman & Co Research on H&T Group: 1H’24 results - Four-one at half time, but the one wins 20-Aug-2024 / 11:50 GMT/BST The issuer is solely responsible for the content of this announcement. Hardman & Co Research on H&T Group: 1H’24 results: Four-one at half time, but the one wins H&T 1H’24 results saw pre-tax profits rise 12.5% from 1H’23 to £9.9m. We have identified five key ongoing business messages, four of them favourable and one unfavourable. The scale of the latter, though, means we have reduced our FY’24 estimates by £3m, but still forecast double-digit profit growth. The positive messages were i) strong demand for pledge lending (gross advances up 14% to £146m, ii) retail sales up 27% with an improving margin, iii) FX delivering double-digit profit growth, and iv) good cost control. The downside was a repeat, indeed acceleration, in last year’s unusually high spring redemption levels impacting income and capital levels. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/1h24-results-four-one-at-half-time-but-the-one-wins/ If you are interested in meeting the company, register your interest here.
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