Pawnbrokers stand to gain in downturn

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

H&T Group, which has more than £30 million out on loan to people who have pawned jewellery or other valuables, says it expects to increase profits to more than £10 million, a rise of about 50% on the previous year.

H&T, formerly Harvey & Thompson, has 105 stores — almost a third of them in London — as it vies with Albemarle & Bond to be Britain's largest pawnbroker.

Chief executive John Nichols said the UK has gone back to the future as the sign of the three golden balls returns to the country's high streets. He added: "The main reason for our growth in profits is our greater presence and the fact that people realise that pawnbroking is often an easier alternative for small or short terms loans."

H&T typically charges a punitive 8% a month on cash advances averaging £120.

Of the jewellery that ends up getting sold, retail sales "grew significantly" over the past six months, the company said, but had been pegged to 3% growth in December because of difficult high street conditions.