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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Albemarle & Bond - Broker upgrades drop 2012 PE to just 9.2

November 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.

  • Epic Code:
  • ABE
  • Price:
  • 324p
Final results, which were ahead of expectations from pawnbroker Albemarle & Bond, have led to welcome upgrades to forecasts. For the year to 30 June pretax profit rose 5% to £20m with eps rising 6.7% to 28p, against forecasts for 27.1p. Growth may appear anaemic but it should be remembered that a) Albemarle had to bear a £3.6m penalty from hedging gold sales at a lower price and which has now expired and b) it incurred a significant hike in infrastructure costs to support recent ramp up in store expansion. As we noted in this month's write-up on rival H&T, demand for Albemarle's pawn broking services is high due to cautious bank lending and a rise in the value of gold, which has provided increased collateral from which c ...

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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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