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H&T - Rapid expansion effectively financed by buoyant gold buying activity

May 2012

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.

With a recent study showing that high street banks and other loan providers have cut unsecured lending by 20%, it's estimated that 8-10 million people in the UK now have no access to traditional credit sources and this, allied to higher gold prices, are key factors in helping pawnbroker H&T achieve record-breaking final results. For the year to 31 December pretax profit rose 14% to Â£23.5m while eps rose almost 5% to 51.1p, a great result given that the previous year included a Â£4.9m one-off gain. In pawn broking, gross profit increased 15% to Â£26.7m, driven by higher customer numbers and a 13% increase in average loan size. Future prospects look strong with the pledge book up 18% to Â£46.6m while the group also opene ...

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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.

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H&T - Rapid expansion effectively financed by buoyant gold buying activity

May 2012

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