1 / 30

Annual Results 2010

2. Agenda. Group highlightsFinancial reviewStrategy updateOutlook. 1. Highlights. John NicholsChief Executive. 4. Record profits, excellent cashflow generation, strong dividend growthPBT growth of 38% to

oleg
Download Presentation

Annual Results 2010

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. Annual Results 2010

    2. 2 Agenda Group highlights Financial review Strategy update Outlook

    3. 1. Highlights John Nichols Chief Executive

    4. Record profits, excellent cashflow generation, strong dividend growth PBT growth of 38% to Ł25.5m (2009: Ł18.5m) Final dividend proposed of 6.00p (2009: 5.60p), implying a 17% increase in the full year dividend to 9.50p (2009: 8.10p) Continued growth in pawnbroking Gross pledge balance at year-end of Ł39.5m (2009: Ł38.2m, H1 10: Ł37.3m) Consistent delivery of expansion strategy – 135 stores currently trading 2010: 12 greenfield stores + 1 acquisition + 1 relocation Provisional terms currently agreed on 14 new leases Gold purchasing volumes remain above historical averages – H2 margins steady Favourable market conditions Highlights

    5. 2. Financial Review Alex Maby Finance Director

    6. Profit before tax up 38% to Ł25.5m from Ł18.5m Proforma (pre swap fair value movement, debt fee write off, amortisation) Ł26.8m, +41% Includes working capital contribution of Ł4.9m Gross profit up 30% to Ł66.8m (2009: Ł51.2m) Key drivers Strong LFL growth in both lending and interest collections Increased gold purchasing profits Expansion of store estate Working capital & aged pledge profit contribution Net debt reduced to Ł27.0m (2009: Ł42.3m) Final dividend proposed of 6.00p, a 7.1% increase (2009 final: 5.60p) 2010 Results - Summary

    7. Proforma Profit Before Tax

    8. 8 Consolidated income statement

    9. 9 Gross Profit: Pawnbroking remains core

    10. Pawnbroking: Pledge Book and PSC

    11. Pawnbroking: Pledge Book Analysis

    12. Pawnbroking Disposition

    13. Gold Purchasing

    14. Financial Services

    15. 15 Consolidated balance sheet

    16. Cashflow Statement

    17. Cashflow Analysis

    18. Dividend Per Share

    19. 3. Strategy Update John Nichols Chief Executive

    20. Expansion in the Estate

    21. Our Combined Estate – 180 Outlets

    22. Our Estate – New Stores Examples

    23. Increase Contribution from Recent Additions

    24. Develop Products & Services

    25. 4. Outlook John Nichols Chief Executive

    26. 2009 and 2010 new store openings performing, on average, ahead of Board expectations Benefitting from roll out experience to date + significant advances in management information Further expand our national footprint by either acquisition or greenfield rollout Terms on 14 leases provisionally agreed Significant balance sheet capacity Seek to increase contribution from new and long established stores First UK pawnbroker to build a pledge book of over Ł40m Develop new products, services and constantly improve store formats H&T Lite, H&T On-line 2011 year to date trading in line with market expectations Outlook

    27. Q&A / Appendix

    28. What Do We Do?

    29. Pawnbroking Explained

    30. The Board

    31. Share Price (HAT:LSE)

More Related