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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Albemarle & Bond - Openings to accelerate to 25 a year

April 2010

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:
  • 254p
Pawnbroker, Albemarle & Bond triggered a round of upgrades following very strong interim results. For the six months to 31 December, turnover increased 49% to £39.4m and pretax profit rose 75% to £10.8m. Eps was up 73% to 14.16p. Strong cash flow reduced gearing from 85% to 47%.With bank lending still hard to come by, Albemarle benefited with its pawn loan book rising 7% to £27.5m, while there was a 14% increase in pawnbroking income to £13.2m. While financial services increased gross profits 10%, the biggest overall swing factor was gold purchasing, which contributed an astonishing £5.2m to gross profit (20% of the total).  Albemarle's improved cash flow has allowed it to step up its store opening program fro ...

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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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