Hardman & Co Research / GB00B12RQD06
23.01.2024 - 18:47:03Hardman & Co Research on H&T Group (HAT): Growing pawnbroking core will drive other services
| Hardman & Co Research Hardman & Co Research on H&T Group (HAT): Growing pawnbroking core will drive other services 23-Jan-2024 / 17:47 GMT/BST The issuer is solely responsible for the content of this announcement. Hardman & Co Research on H&T Group (HAT): Growing pawnbroking core will drive other services In our 15 March 2023 initiation, Pawnbroking royalty, with strong, profitable growth, and later notes, we have highlighted the strong market for pawnbroking and why H&T, as the market leader, is uniquely placed to take advantage of these opportunities. Subsequent to the initiation, we had raised our pledge book forecast twice, and we do so again with the latest trading statement. In this note, we explore how pawnbroking growth is a key driver to the retail offering,S pawnbroking scrap and gold purchase, with varying degrees of time lag. Like many in the retail space, H&T faced the challenge of customers focusing on lower-value, lower-margin items in the key run-up to Xmas 2023. We have cut 2023E PBT by £3m (11%). Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/growing-pawnbroking-core-will-drive-other-services/ If you are interested in meeting the company, you can register your interest by clicking on the above link
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