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The UK's longest established regulated provider of sponsored equity research.

We launched EQUITY DEVELOPMENT in 1997 becoming the first ever  regulated provider of Sponsored Equity Research in the UK.

Our research teams are made up of expert analysts with deep understanding & experience in their sectors.  Our research is distributed to all relevant investment classes & commentators. (at no cost to the reader).

We have made our name by specialising in those companies who are not receiving the attention that they merit, using detailed commentary, appropriate valuation metrics and regular publications to help eradicate undervaluation in the medium term.

 

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H&T Group

H&T (HAT) Group’s operating subsidiary, Harvey & Thompson is the largest British pawnbroker, by size of pledge book, with 93 shops and a pledge book of more than £27m ( Q1, 2008)

Low-risk, non-cyclical growth stock

Interim results were better than expected

Acquired four stores since raising £7m in June

H&T trading at discount 15% to peer

Publication Date:
August 28 2007

Subprime worries do not worry pawnbrokers

Pawnbrokers likely beneficiaries from interest rate rise

Not reflected in recent share price fall

Publication Date:
August 10 2007

Placing and Acquisitions

H&T’s share price has risen on the announcement of a placing of 3.6 million shares (11.4% of those currently in issue) to fund the cash element of acquisitions.

Publication Date:
May 17 2007

First results since IPO show strong progress

  • Retail margins better than expected
  • H&T Redemption ratio up to 78%
  • At under 16x PER 07 cheap vs market and peer group

Publication Date:
March 22 2007

H&T Group; positive trading statement, consequent ED upgrades

H&T have made a pre-close trading statement to prevent a false market in their shares because operating profits are estimated to be significantly (10%) better than the consensus forecast.

 

Publication Date:
January 10 2007

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