Albemarle & Bond, the UK based pawnbroker and financial services company, announced that final results to June 2011 showed revenues of £101.9 million (2010: £82.0 million), pre-tax profit of £21.0 million (2010: £20.0 million), EPS of 27.7p (2010: 25.89p) and DPS of 12.5p (2010: 11.75p). The company reported that only 1% of the UK population has been in a pawnbroking store.
The year end estate comprised 159 full line stores (2010: 132) and 38 pop-up shops (2010: 15). 45 stores are under two years old and hence are at an early stage of building their pledge books. At least 25 new stores are planned for 2011/12, of which 7 are already open.
A Chief Information Officer has been appointed, bringing IT delivery experience from companies such as Halfords, Home Retail and Boots. The ability to offer services online is being developed. A unified branch operating system is being developed, which will provide a multi channel capability. A new loan administration system has been developed. These systems in combination will assist cost reduction, credit control and data mining.
Year end net debt was £33.2 million, equivalent to 1.35x EBITDA. Trading since the year end has been slightly ahead of expectations.
The ABM share price has increased by 22% over the last year.
Albemarle & Bond Holdings Plc is currently graded A by LCF Research. To learn more, follow the link.
Disclaimer:
This note was prepared by LCF Research Limited using information provided by the subject company’s management or publically available news sources. No representations are made nor warranties given (express or implied) in relation to accuracy and completeness. This document is not an invitation to invest in the subject company and does not purport to contain all the necessary information that a prospective investor might require. LCF Research Limited recommends prospective investors to conduct their own thorough independent analysis of the subject company and the information contained in this note or referred to above.
Albemarle & Bond Holdings PLC is a holding company. The Company’s principal activities include pawnbroking, retail jewellery sales, gold purchasing, unsecured lending, including cheque cashing and other financial services. The Company’s portfolio includes the United Kingdom’s pawnbroking and financial services brands. The Company trades through three formats: Albemarle Bond, Herbert Brown and Gold Buying stores. The Company’s pawn loan is secured against gold or jewellery. The Company’s retail division offers a selection of both new and second-hand jewellery, and a range of luxury watches. Herbert Brown brand offer tailor-made gold buying services paying cash for unwanted broken, tarnished or tangled gold jewellery. The Company also offers short-term loans to its customers. more »
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