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TRADING UPDATES: H&T notes strong demand; TClarke confident of gains

Wed, 10th May 2023 15:20

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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H&T Group PLC - Surrey, England-based pawnbroker - Says demand for pledge lending has remained strong, with January and March both being record months for lending. The pawnbroking pledge book grew by the end of April to around GBP106.5 million, up from GBP100.7 million at December 31. Adds that demand for pre-owned jewellery and watches has continued to be strong, with retail sales to the end of April up 13% year-on-year. Says gold purchase volumes have been in line with forecasts. Scrap margins continue to benefit from a strong gold price. Chief Executive Chris Gillespie says: "With continued investment in scale and capabilities, along with broadening our business in the context of wider macro-economic factors, we continue to believe that the group has an opportunity for significant growth in the medium term across all of our product offerings."

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Hochschild Mining PLC - London-based precious metals company focusing on the exploration, mining, processing and sale of silver and gold - Reports first quarter attributable production figures, including 39,735 ounces of gold, 2.1 million ounces of silver, 64,514 gold equivalent ounces, and 5.4 million silver equivalent ounces. Reiterates full-year production guidance of 301,000 to 314,000 gold equivalent ounces. Further, expects to receive a decision from the Peruvian government on its Inmaculada Modified Environmental Impact Assessment in the second quarter.

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Luceco PLC - Supplier of wiring accessories, EV chargers, LED lighting, and portable power products - Trades in line with expectations in the first quarter, though revenue fell 5% to GBP48 million from a year prior. Says that the stronger gross margin seen in the second half of 2022 of above 38% has continued into the first quarter, and current activity levels are inline with expectation. However, notes that macroeconomic conditions remain difficult to judge, with leading indicators continuing to suggest residential RMI markets will remain challenging. CEO John Hornby says: "We are optimistic for the remainder of 2023, whilst maintaining an element of caution recognising that macroeconomic conditions remain difficult to judge. We are excited by a number of product developments which provide us with medium and long-term opportunities to grow the business."

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GRC International Group PLC - Ely, England-based provider of products and services for IT governance, risk management and compliance - For the year ended March 31, expects revenue between GBP14.5 million and GBP15.0 million, up from GBP13.9 million a year prior. Anticipates earnings before interest, tax, depreciation and amortisation in the range of GBP300,000 to GBP600,000, down from GBP900,000. Attributes this decline to economic headwinds and wide macro uncertainties in the third quarter. Gross margin is expected to increase to 61% from 59%.

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TClarke PLC - London-based engineering services firm - Says trading in the early months of 2023 has continued to be strong, and that the board remains "highly confident" that revenues will exceed GBP500 million for the first time in the current year. The forward order book now stands at GBP720 million, up from GBP585 million a year prior. Says it is well-positioned to manage additional revenues in its various market sectors.

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By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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