Updates

Albemarle & Bond - Bank refinancing underpins expansion

April 2012

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.

Pawnbroker Albemarle & Bond produced interims in line with expectations. Pretax profit rose 12% to Â£12.1m, which was impressive given that it absorbed a 27% increase in costs related to a store expansion program and investment in central infrastructure. A lower corporate tax rate meant eps rose 15% to 16.27p. Helped by a 7% rise in the pledge (loan) book to Â£38.3m, pawn broking gross profit rose 14% to Â£17.2m. With strong gold prices strengthening volumes of business it was no surprise that the gold buying side increased gross profit by 88% to Â£12m. Elsewhere, other financial services (such as pay day loans) saw an 11% reduction in gross profit to Â£3.9m, while retail profits fell nearly a third to Â£2.7m (2010: Â£4 ...

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Informa - Falling debt should lead to re-rating

Shaft Sinkers

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

Albemarle & Bond - Increased competition clips forecasts (August 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)

Albermarle & Bond - Pawnbroker benefiting from credit crunch (April 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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