H&T Group "not expecting significant cost inflation during H2"
London, UK
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August 08, 2023 06:46 AM Eastern Daylight Time
H&T Group PLC (AIM:HAT) chief executive Chris Gillespie speaks to Proactive's Thomas Warner after publishing interim results for the first half of 2023 that showed a 31% increase in profit before tax to £8.8m Gillespie gives his highlights from the year, saying that the company's pledge book surpassed expectations by growing 14%, while strong demand for the group's various products reached record levels with sales up 11%.
Notably, online sales skyrocketed by almost 80%, accounting for a quarter of total sales. He acknowledges that the group was surprised like many others by the levels of cost inflation recorded during the first half of 2023, but says that he anticipates continued revenue growth and stability and is "not expecting significant cost inflation" to continue into the second half. Gillespie expressed confidence in the group's future, citing ongoing support from long-term bankers and access to increased funding of £50mln that will be used to continue growing the business.
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