Lending volume up 40pc for pawnbrokers

The UK's largest pawnbroking group says lending volume is 40 per cent above pre-pandemic levels,

H&T has shops across the Black Country
H&T has shops across the Black Country

H&T, which is also a leading retailer of new and pre-owned jewellery and watches, has shops in the Black Country and Kidderminster.

The group will be releasing its full half year results on August 9.

It said demand for pledge lending has continued to gather momentum in the first half of the year. The pawnbroking pledge book at the end of June was £84.2 million compared to £48.3m a year earlier and £66.9m at the end of 2021.

Pledge lending remains at record levels, with incremental growth month on month over the period.

H&T said that gold purchasing has been buoyant, supported by a rising gold price which has driven both volumes and improved margins.

Foreign currency revenues have more than doubled in the first half of 2022 as international holiday travel returned, with transaction volumes back close to pre-pandemic levels.

Chief executive Chris Gillespie said: "I am delighted with the progress we have made in the first half of 2022, and the momentum with which we enter the second half of the year."

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