Hardman & Co Research / GB00B12RQD06
04.04.2024 - 17:57:02Hardman & Co Research on H&T Group: Core franchise build, short-term retail noise
| Hardman & Co Research Hardman & Co Research on H&T Group: Core franchise build, short-term retail noise 04-Apr-2024 / 16:57 GMT/BST The issuer is solely responsible for the content of this announcement. Hardman & Co Research on H&T Group: Core franchise build, short-term retail noise In our 15 March 2023 initiation, Pawnbroking royalty, with strong, profitable growth, and subsequent 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. These results reconfirmed both, with the pledge book up 28% and net pawnbroking revenue up 36%. 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 Christmas 2023. Forex profits grew 11%, again helped by H&T’s unique franchise. While there are government-driven and inflationary pressures on costs, 2023 expenses were below our forecast, evidencing good cost control. Please click on the link below for the full report: https://hardmanandco.com/research/corporate-research/handt-core-franchise-build-short-term-retail-noise/ If you are interested in meeting the company, you can register your interest by clicking on the above link
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