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H&T Group PLC reassured by post-reopening performance


The group’s performance over the past three years demonstrates the continuing success of our strategy to access more customers and markets

John Nichols, chief executive


What H&T does

() is a UK pawnbroker and financial services firm.

Its pawnbroking business buys and sells used jewellery, watches, gold, handbags and art.  

The group also provides in-store personal loans of up to £5,000 and sells foreign currency to holidaymakers.

In 2020 it implemented an online pawnbroking payment portal to settle loans remotely.


How it is doing

H&T has reopened its estate ina phased manner starting in May, following two months of closures in light of the pandemic.

The AIM-listed firm said it was reassured by the volume of customers being serviced and the early recovery in new customer lending.

Throughout the lockdown period it benefitted from the high gold price as it maintained its gold processing operations, as well as continuing to sell jewellery online.

Costs and cash outflows were mitigated and net debt was reduced despite the revenue hit.

Clients were supported by the option for an interest holiday on all outstanding secured loans while stores were closed, as well as providing pawnbroking and personal loan customers with the opportunity to defer payment by up to three months.


What the boss says: John Nichols, chief executive

“We have supported our customers through this extraordinary period, put in place the right procedures and protocols to ensure the wellbeing of our staff and safely re-opened all of our stores.”

“Whilst not immune to the effects of the pandemic, H&T has come through this phase of this global crisis in good order and in a robust financial position. We therefore look forward to both serving our customers and acting upon the other opportunities that we see ahead.”




Inflexion points

  • The AIM-listed company has been investing in its digital presence as more customers shift to online
  • Strong gold price is adding to good performance
  • Recovery as estate reopens post-lockdown

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