From The Times: Britain’s biggest pawnbroker raised its profit forecast yesterday after people cashed in gold jewellery to take advantage of the high price of the precious metal.
H&T said that its full-year pre-tax profit for the year that ended on December 31 would exceed expectations because of strong trading throughout the Christmas period.
The London-listed company said that retail jewellery sales had been strong during the second half, but nevertheless were down by 6 per cent from the previous year. It benefited from the rising price of gold during the pandemic as returns from precious metal scrappage rose by 58 per cent.
Yesterday Numis Securities, H&T’s broker, upgraded its pre-tax profit forecast to £14.2 million, a 29 per cent increase on the £11 million it had predicted
Read the full story: https://www.thetimes.co.uk/article/pawnbroker-h-amp-t-relishes-its-pot-of-gold-pp62zqwzz#:~:text=Britain’s%20biggest%20pawnbroker%20raised%20its,price%20of%20the%20precious%20metal.
