Half-year profits down for the pawn shop group
The group, which has 253 stores including several in the Black Country and one in Kidderminster, made a pre-tax profit of 4.7 million pounds against 5 million pounds a year earlier.
He said it was a solid performance against the backdrop of Covid-19 related trade restrictions from January to April and reduced the custom of Main Street throughout the period
Retail sales rose 26.5% to £ 12.4million and pawn shop income rose 10.1% to £ 18.5. The group’s personal loan portfolio fell 66% to £ 3.4million.
Managing Director Chris Gillespie said: “H&T has negotiated strongly since the April phased easing of restrictions linked to the pandemic. Pawn shops regularly return to normal levels and the demand for our value for money, high quality jewelry and watches has been particularly strong.
“Across the company, our colleagues have done an incredible job throughout the pandemic, ensuring that we are meeting the needs of customers, whether in-store, over the phone, or increasingly. line. Our two websites are now up to date and we continue to invest in improving our IT systems to better support colleagues and to expand our reach and appeal across all appropriate channels for our clients. “