Pawnbroker overcomes gold pressure

The UK's biggest pawnbroker has said competition had squeezed its gold purchasing arm but this had been offset by demand for higher loans in its core business.

H&T Group, which has 174 stores and 55 "GoldBar" units, said its pawnbroking operations were expected to report double-digit year-on-year growth in the six months to June 30, boosted by an increased size of the average loan and a bigger pledge book.