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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.

  • Epic Code:
  • ABM
  • Price:
  • 197p
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 £2m to £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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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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