A higher gold price in 2016 helped contribute to a 22.4% EBITDA increase for H&T Group, the parent company of the H&T Pawnbrokers, established in 1897, and H&T Money fascias, for the full year to December 31, 2016.
EBITDA rose from £10.7m in the 2015 full year to £13.1m last year, while gross profit increased from £47.5m to £54.8m, an increase of 15.4% year on year.
Group chief executive John Nichols said that a higher gold price contributed to the uplift in profits as did a solid operational performance across the group.
“High street pawnbroking remains challenging and only those companies that can adapt to the new consumer and regulatory landscape will succeed,” said Nichols.
“We believe that H&T has a robust business model capable of delivering a range of products to our customers in a responsible way. We have demonstrated our ability to develop new revenue streams and are well placed to succeed as the market continues to evolve.”