Friday, 24 May 2013

The Guardian: Gold price collapse hits pawnbroker profits

Shares in largest British high street gold buyer H&T slide as it warns that every 10% fall in the price of gold would wipe about £2m off its profits.

Britain's biggest pawnbroker on Friday warned the collapse in the gold price will knock its profits.

H&T, the largest British high street gold buyer, warned that every 10% fall in the price of gold would wipe about £2m off its pre-tax profits. The stock market warning sent the company's shares tumbling more than 11% on Friday to 224p.

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