Primary Recommendation

Albemarle & Bond - Pawnbroker enjoying windfall gains from surge in gold

November 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.

With gold hitting a series of new highs on the back of sustained weakness in the US Dollar it was no surprise to see shares in last month's front page write-up, Peter Hambro Mining (now renamed Petropavlovsk), enjoying fresh gains. But while gold producers are clear beneficiaries there are also less obvious winners from this trend with one example being Albemarle & Bond, one of the largest pawnbrokers in the UK. Although pawnbroking is not at the glamourous end of the retail spectrum Albemarle, which only accepts gold items as collateral for loans, is experiencing super normal returns in the present market environment. Analysts had been expecting eps of 15.8p last year to end June but Albemarle eventually produced eps of 19.6p ...

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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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