Updates

H&T - Boosted by gold scrapping profits

September 2009

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.

The shares surged to an all time high after H&T issued an exceptionally strong set of results and now stand 86p higher than when we recommended them at 185p in March. Pretax profit was Â£8.5m in H1 09 compared with Â£4.6m in H1 07 driven by the strength of the pawnbroking operations and by windfall gold scrapping profits. Adjusted eps was 16.4p. Overall gross profit in H1 lifted by a third to Â£22m, similar to the 30% increase seen in the first half last year. Although the company has a variety of business income, what represents the lion's share (over 50% of gross profit) is the "pawn service charge" and this accounted for Â£11.6m of the gross profit. The increase in the pawn service charge that H&T is seeing is due to a ...

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Scott Wilson

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H&T (February 2010)

H&T - Forecasts upgraded from Â£14.6m to Â£18.2m (eps 37p) (November 2009)

H&T - Barnstorming progress in light of high gold price (June 2009)

H&T - Gold price and weak pound boost profits (March 2009)

H&T (February 2009)

H&T - Gold trading bolsters profit by Â£2.4m (September 2008)

H&T - High gold price boosts profits (May 2008)

H&T (February 2008)

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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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