DJ Hardman & Co Research on H&T Group (HAT): Pawnbroking's current appeal
Hardman & Co Research Hardman & Co Research on H&T Group (HAT): Pawnbroking's current appeal 01-Jun-2023 / 15:45 GMT/BST The issuer is solely responsible for the content of this announcement.
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Hardman & Co initiation of coverage on H&T (HAT):
Pawnbroking's current appeal
In our 15 March initiation, Pawnbroking royalty, with strong, profitable growth, we highlighted that H&T's core is pawnbroking and related retail services operations. As other small-sum, short-term lenders have withdrawn at a time of heightened demand, H&T's well-capitalised, low-risk proposition has unique growth opportunities, which are expected to fuel strong earnings growth (2024E EPS 4.2x 2021 levels). We also note that the dividend is progressive (2024E yield 5.3%). H&T's AGM trading statement on 10 May confirmed our positive expectations. In this note, we focus on the reduction in competition at a time of heightened demand and the low-risk nature of H&T's pawnbroking business. Please click on the link below for the full report:
https://hardmanandco.com/research/corporate-research/pawnbrokings-current-appeal/
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Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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End of Announcement - EQS News Service
1647627 01-Jun-2023
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(END) Dow Jones Newswires
June 01, 2023 10:45 ET (14:45 GMT)
