StockMarketWire.com - Pawnbroking group H&T said all of its stores were now reopen following the temporary closure of its entire estate on 24 March.

The company said it had opened with a full financial service offering and from 15 June had recommenced offering retail jewellery through its stores.

It had continued to sell jewellery online and maintained its gold processing operation, benefiting from a relatively high gold price.

Some customer had been offered an interest holiday on all outstanding secured loans while the stores were closed.

Pawnbroking customers had been given the opportunity to defer payment, by extending their loan period for up to three months, while personal loan customers could also choose a three-month payment deferral.

H&T said revenue was materially impacted during the period of closure and the phased reopening.

'We have mitigated this through prompt actions on costs and stronger performance in gold processing,' it said.

'As a result we have seen cash inflow and a reduction in overall net debt at the period end.'

'We will continue to focus on operating expenses while we build revenues back to pre Covid-19 levels.'

'While it is too early to determine the trading impact of Covid-19 on our performance for the year as a whole we are reassured by the volume of customers being serviced since we have safely re-opened our stores, and the early recovery in new customer lending.'


At 3:15pm: [LON:HAT] HT Group PLC share price was -11p at 328.5p



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