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Albemarle & Bond - Trading ahead of expectations

July 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:
  • 215p
Shares in Albemarle & Bond sprang to life with a 20p rise on the day it announced that trading was running ahead of the board's expectations while results for the year to 30 June will now exceed expectations. This has been driven by a strong performance in the pawnbroking side, with the higher price of gold enhancing the yield on unredeemed loans. In reaction, Collins Stewart has upgraded '09 eps forecasts by 14% to 18.4p, while for the year starting 1 July eps forecasts are upgraded 16% to 20.6p. It also believes that in the current (credit starved) environment there could be even more upgrades to come. The shares have yet to catch fire since we made them a front-page write-up at 196p last November, probably reflecting ...

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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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