UK’s largest pawnbroker H&T said it was trading well ahead of current market expectations owning to rising gold prices and its growing gold-buying business.

H&T has opened 56'Gold Bars’, where consumers can sell there unwanted gold jewelry.

H&T said that its pre-tax profits before exceptional items surged 52 per cent to settle at £8.4 million during the 6-month period ended June 30.

In addition, the company announced that its core pawnbroking and retail business was also trading in line.

The announcement pushed shares in H&T up by 19.75p-a-share to 305p-a-share in the recent trading.

However, H&T said it could face a drop in headline pre-tax profit in 2010 as compared with 2009.