H & T Group announce a final dividend of 8.0 pence (2020: 6.0 pence) per ordinary share will be paid on 24th June 2022 to those shareholders on the register at the close of business on 13th May 2022. This will bring the full year dividend to 12 pence (2020: 8.5 pence).
Other financial highlights include:
£10.0m adjusted profit before tax (2020: £15.6m) in line with expectations with strong segmental contribution from core business of pawnbroking and retail, and a significant recovery from the impact of Covid-19 trading restrictions and reduced footfall
Pledge book increased 38.5% to £66.9m (2020: £48.3m) as at year end, with demand for pledge lending fully recovered to pre-pandemic levels; Q4 particularly strong and record lending volumes in December
Cash resources of £16.8m utilised primarily to restore the pledge book. The Group ended the year with cash balances of £17.6m (2020: £34.5m)
Significant retail sales growth of 21.5% to £36.2m (2020: £29.8m) with positive momentum across both the store estate and online platforms since May, at improved gross margin of 45.9% (2020: 37.9%)
Net revenue from unsecured personal lending reduced to £4.3m (2020: £8.1m) as book declined and Group refocused on attractive growth opportunities within core businesses
Adjusted basic earnings per share of 20.8p (2020: 32.1p), basic earnings per share of 15.4p (2020: 32.1p)
Strong balance sheet with net asset value (NAV) of £136.6m (2020: £134.5m) and NAV per share of 348.9p (2020: 343.9p)
Regulatory review of the Group's unsecured high-cost short term (HCST) loans business progressed and a provision of £2.1m raised ahead of anticipated confirmation by the FCA that H&T can proceed to implementation of required past book review and subsequent redress programme
