Updates

H&T

March 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

I was surprised to see pawnbroker H&T’s smaller retail jewellery business, which only contributed 17% gross profit in 2022, deteriorate so much in Q4 that it dragged the group into missing FY23 forecasts by as much as 10%. Clearly, cost of living factors weighed heavily on demand in the festive season and while volume of items sold rose 3%, customers typically favoured new jewellery items and coins (62% sales in Q4), which are less profitable and have an average price point of £73 over pre-owned ones (£199 price point). That changing mix reduced profitability. If it wasn’t for retail the group would have enjoyed a strong year. Pawnbroking saw aggregate lending rise from £218m to £260m in FY23 with the pledge book rising 31% to ...

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Crest Nicholson

On the Beach

H&T (October 2024)

H&T (July 2024)

H&T (April 2024)

H&T -Pledge book rises 33% (September 2023)

H&T - Pawn loan book grows 6% (July 2023)

H&T - Pledge book jumps by half (April 2023)

H&T - FY’24 eps upgraded 8% to 69.6p after placing to accelerate growth (November 2022)

H&T - FY’22-’24 eps forecasts upgraded 18%, 37% and 30% respectively! (October 2022)

H&T - Pawnbroker’s pledge book hits record high (August 2022)

H&T (April 2022)

H&T (June 2021)

H&T (March 2021)

H&T - Pawnbroker should benefit from record gold prices (October 2020)

H&T (August 2020)

H&T - Profit supported by strong gold price (April 2020)

H&T (December 2019)

H&T (November 2019)

H&T - Acquisition of best Money Shop stores boosts prospects (October 2019)

H&T (April 2019)

H&T (October 2018)

H&T - Beats forecasts again (June 2018)

H&T (February 2018)

H&T (January 2018)

H&T - CEO John Nichols gives confident interview (November 2017)

H&T - Shares burst through £3 (May 2017)

H&T - Broker lifts price target to £4 (March 2017)

H&T (December 2016)

H&T (November 2016)

H&T - Rising gold prices could boost lending (September 2016)

H&T - Pawnbrokerâ€™s move into new products drives eps growth (June 2016)

H&T - Profits recovering (May 2016)

H&T (June 2013)

H&T - Pledge book still growing nicely (October 2012)

H&T (August 2012)

H&T - Rapid expansion effectively financed by buoyant gold buying activity (May 2012)

H&T - Forecasts upgraded (February 2012)

H&T - High gold prices help pawnbroker beat expectations (November 2011)

H&T - Brokers upgrade again (October 2011)

H&T - Gold purchasing drives profit growth (June 2011)

H&T - Beats expectations again (March 2011)

H&T (October 2010)

H&T - Substantial eps upgrade (August 2010)

H&T (May 2010)

H&T (March 2010)

H&T - Eps forecasts upgraded 16% (December 2009)

H&T - Pawnbroker cashing in from soaring gold price (October 2009)

H&T (February 2009)

H&T - Pawnbroker with excellent track record (October 2008)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

H&T

March 2024

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