LONDON (ShareCast) - Pawnbroker H&T will produce strong interim results and expects full year results at the top end of expectations boosted by the strong gold price and troubled times for the economy.
"The group has performed strongly
for the year to date, with all business segments demonstrating growth when compared to the same period in 2008. Disposition profits have contributed substantially to the out-performance of the Board's expectations for the year to date, driven predominantly by the sustained price of gold and the success of the group's gold purchasing strategy," it said in a trading update.
H&T noted there is uncertainty over both the gold price and retail sales over the second half of 2009, but expects profits to come in much better than expected even so.
The upgraded expectations are also despite the costs of its continued store expansion programme, with three stores having opened so far this year and a further nine having identified start dates during 2009.
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