Secondary Recommendation

Albermarle & Bond - Pawnbroker benefiting from credit crunch

April 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

If there was ever a business tailor-made for the credit crunch it would surely be Albemarle & Bond (FT sector: AIM, General Financial), one of the UK's largest pawnbrokers, which in the last ten years has generated a more than five-fold rise in pretax profit from Â£2m to Â£10.3m. That was achieved when credit was plentiful but even with mainstream banks now finding any excuse to reduce their lending commitments, Albemarle's recent interim results were so strong that analysts forecast profits to rise a further 30% over the next two years.The pawnbroker market is larger than you might think and it's estimated that there are nine million people in the UK in the non-standard credit market, while a further two million households ha ...

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PZ Cussons - Imperial Leather owner set to increase profits to Â£100m in 2010

Dunelm - Homewares firm to accelerate new store openings

Albemarle & Bond - To scale back new openings (November 2012)

Albemarle & Bond - Increased competition clips forecasts (August 2012)

Albemarle & Bond - Bank refinancing underpins expansion (April 2012)

Albemarle & Bond - Lending crisis still driving demand (January 2012)

Albemarle & Bond - Very strong growth expected from store expansion (July 2011)

Albemarle & Bond (November 2010)

Albemarle & Bond (August 2010)

Albemarle & Bond - Openings to accelerate to 25 a year (April 2010)

Albemarle & Bond - Pawnbroker enjoying windfall gains from surge in gold (November 2009)

Albemarle & Bond - Trading ahead of expectations (July 2009)

Albemarle & Bond - Pawnbroker likely to be big winner from credit crunch (November 2008)

Albemarle & Bond - Loan book increases to Â£8.4m (March 2003)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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