(MENAFN- ProactiveInvestors - UK) A focus on larger loans at lower rates has helped pawnbroker H & T GROUP PLC (LON:HAT) increase its pledge book by 4.3% to 39mln in the latest half year, the group said, as it unveiled a "good" start to 2016.
In line with management''s expectations, it has also increased the personal loan book by 82.4% to 6.2mln, compared to 3.4mln at June 30 last year.
The 100-year-old group expects full year profit before tax to be in line with market expectations.
The recent increase in the gold price, if maintained, will also benefit the pawnbroker, it added.
"The board is encouraged by the development of the balance sheet as the combined pledge and personal loans books increased by 10.8% to 45.2mln (30 June 2015: 40.8mln).
Results for the six months to end June are expected to be reported on August 16 this year.
Broker finnCap notes that it moved to ''buy'' from ''hold'' on the shares in March this year, targeting 220p, when shares were at 198p.
"The trading performance of the personal loans book looks promising and, supported by a strengthening gold price, we see no reason to change our stance and look forward to reviewing our TP at the time of the interims."
Shares in HAT today eased 2.57% to 265p.
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