H&t Group Plc Regulatory News (HAT)

10 Oct 2006 15:42

H&T Group PLC10 October 2006 H&T Group plc Acquisition of two pawnbroking stores H&T Group plc ("H&T" or "the Group") today announces the completion of theacquisition of two UK pawnbroking stores, located in Gravesend and Chatham, fromPlandeal Pawnbrokers. The acquisitions are part of the Group's continuing strategy to grow thebusiness through expanding its geographical footprint. During 2006, H&T hasadded five stores to its estate and now has 73 outlets. In addition, the Grouphas secured leases on three further properties which, subject to planningconsents, would expect to open before the end of the year. 10 October 2006 For further information please contact: H&T Group plcJohn Nichols, Chief Executive 0870 9022 600 College Hill Associates (PR)Gareth David/Paddy Blewer 020 7457 2020 About H&T Group H&T Group plc, which trades under the H&T Pawnbrokers and Get>Go brands, is theUK's leading pawnbroking business by size of pledge book. The business wasfounded in 1897 and now has 73 outlets across the UK and approximately 300employees. H&T's outlets offer a range of services including pawnbroking, cheque cashingand unsecured loans. H&T is also a retailer of jewellery, both second-handitems sourced from its pawnbroking operations and a relatively small number ofnew products brought in for re-sale. H&T provides lending solutions designed to meet the financing needs ofindividuals who may not satisfy the lending criteria of high street banks. Asthese individuals are not adequately serviced by mainstream lenders, theDirectors believe that it is an attractive niche market. The Directors believethat H&T has developed strong client relationships founded on its ability toreach lending decisions quickly and the emphasis on customer service, evidencedby repeat business where a single item may be pawned more than once. Newcustomers are typically sourced through passing trade at the Company's highstreet and shopping mall locations, introductions from existing clients andadvertising. This information is provided by RNS The company news service from the London Stock Exchange