Primary Recommendation

Albemarle & Bond - Very strong growth expected from store expansion

July 2011

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.

Albemarle & Bond, one of the UK's largest pawnbrokers, is quickly establishing itself as one of the clear winners of the credit crunch. Tougher lending criteria by high street banks means cash strapped consumers are increasingly turning to its short-term flexible loans, which are secured on gold jewellery and involve no upfront fees, as an easy alternative. Equally enticing, the shares, which have just touched an all-time high, still trade on a soon-to-be prospective PE of just 11.3, which is cheap for two main reasons. First, Albemarle has re-started an aggressive store expansion program and the current rate of openings can be expected to double its estate to more than 300 outlets within five years. But just as important is i ...

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Telecom Plus - FTSE-250 tracker funds could push shares towards Â£10

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 (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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