Increased Demand for Pawnbroker H&T Services Amidst Financial Struggles

Increased Demand for Pawnbroker H&T Services Amidst Financial Struggles

In response to the ongoing challenges posed by high living expenses, pawnbroker H&T has reported a notable surge in customers seeking their services.


The company disclosed that the first half of the year witnessed a pronounced uptick in demand, resulting in a remarkable 31% increase in its profit.

This rise in demand has been accompanied by an interesting trend of borrowers opting for larger loan amounts, averaging £423 each compared to the previous year’s £405.

Positive Borrower Behavior Amidst Financial Hardships

Despite the economic pressures faced by individuals, H&T noted that a substantial proportion of approximately 85% of borrowers are successfully repaying their loans and redeeming their pawned items.

This rate surpasses historical levels, signifying a commendable effort by customers to meet their financial obligations.


Furthermore, there has been a notable shift in the repayment period, with customers now clearing their loans in a shorter span of 97 days, as opposed to the conventional average of 108 days.

Underlying Factors Driving Increased Demand

H&T attributed the growing demand for its pledge lending services to the prevailing circumstances in the financial market.

The departure of several firms from the unsecured lending market has resulted in a reduced supply of credit options, prompting customers to turn to pledge lending as a means of accessing short-term credit.

This trend was consistently observed across various customer segments and geographical regions.

Strong Financial Performance and Optimistic Outlook

The company’s pre-tax profit soared by an impressive 31%, reaching £8.8 million.


CEO Chris Gillespie expressed his satisfaction with the progress made thus far and highlighted the momentum that H&T carries into the second half of the year.

Acknowledging the challenges posed by persistent inflation and rising interest rates, Gillespie reassured stakeholders that H&T is actively addressing these concerns.

He emphasized that the company has factored in much of the cost inflation into its operational plans.

Looking ahead, Gillespie conveyed optimism regarding the latter part of the year, expecting a lower level of cost inflation.

With the combination of increasing revenue momentum and strategic management of costs, H&T aims to achieve record profits for the year 2023.


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