Gold price is at record highs - get a quote online or visit one of our 280+ stores across the UK

UP TO 20% OFF 1000'S OF ITEMS - SHOP NOW

H&T INVESTMENT CASE

INVESTOR PRESENTATION | FULL YEAR RESUTLS 2024 | H&T PLC

  • CLEAR MARKET LEADER

    Trusted pawnbroker for 130 years

    H&T offers a diversified product portfolio across 280 stores throughout the UK, and increasingly online

    We are the UK’s largest pawnbroker and a leading retailer of high quality new and pre-owned jewellery and watches, with strong positions in other product offerings, e.g. one of the UK’s largest small-sum money transfer agents

  • STRUCTURAL GROWTH OPPORTUNITY

    Target audience is growing as supply of small-sum, short-term credit is constrained at a time of increased demand

    Increased demand from customers who are business owners, often excluded by mainstream financial institutions, using the pawnbroking service for working capital purposes

    Growing demand for pre-owned jewellery, coins and watches which represents c.77% of retail sales

    Store footprint can be extended to cover broader geography at a relatively modest investment per store

  • STRONG RETURNS

    Growth in the pledge book underpins future earnings, alongside other product offerings

    Predominantly fixed cost base provides scalability and operational leverage

    Foreign currency and retail enable us to increase revenue and profit per store

    Target to achieve sustainable post-tax ROE* of mid-teens through the cycle

    Progressive dividend policy with minimum 2 x cover target ratio

    *Based on H&T’s effective corporate tax rate

  • GROWING RESPONSIBLY

    Committed to growing responsibly

    Investing in customer service, our teams around the UK and our properties to ensure they are welcoming as well as supporting local communities

    Increasing demand for pre-owned jewellery and watches, driven by demographics, price-sensitive consumers and increasing awareness of environmental and sustainability matters

  • Structural Growth Opportunity

    • Pledge lending collateral is precious metals, watches and jewellery, always in our control
    • No recourse to the borrower at any time – very different to other forms of lending
    • Strong control culture and operational environment
    • Prudent underwriting policies. Loan to value ratios c.65%
    • Strong customer advocacy with high levels of repeat business

  • Our team of experts evaluates items acquired through purchases or unredeemed pledge loans, determining whether they should be resold or sustainably scrapped.

    This approach fosters a circular economy, ensuring that jewellery and watches remain in circulation through refurbishment, reuse, and redistribution.

;