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Albemarle & Bond - To scale back new openings

November 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.

  • Epic Code:
  • ABM
  • Price:
  • 248p
Pawnbroker, Albemarle & Bond has released finals showing pretax profit rising 2% to £21.4m and eps increasing 2% to 28.6p. Helped by continued difficulties in mainstream lending its core pawn broking side increased gross profit 10% to £34.8m, with the pledge book growing 12% to £40.2m, thanks to new store openings and organic growth. The group opened 25 full line stores, including 2 acquisitions and as at 30 June had 234 outlets (184 full line and 50 gold buying “pop-upâ€). As flagged in June gold buying has seen a deterioration in trading volumes since the spring although it still increased gross profit by 50% to £21.7m. Margins have now stabilised at lower levels, reflecting increased competition and management ...

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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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