12.5% rise in H&T pre-tax profits, driven by increased pledge lending and retail sales growth.
H&T, Britain's largest pawnbroker, reported a 12.5% rise in pre-tax profits, reaching £9.9m in the six months ending in June, driven by increased pledge lending due to limited short-term credit options. Pledge lending grew 14% to £146m, and retail sales increased by 27% due to higher gold prices and stronger demand for watches and jewellery. Small business owners and entrepreneurs are turning to H&T for loans as traditional banks restrict funding.
August 20, 2024
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