Albemarle & Bond, the UK based pawnbroker and financial services company, reported in the November AGM update that performance for the four months to October 2011 has continued strongly, leaving the group well placed to meet management expectations for the full year.
The estate comprises 169 full line stores and 38 pop-up shops, with 4 more full line stores due to open before December and 40 pop-up shops due to be operational for Christmas. The stores opened in 2009 and 2010 have contributed to profit which has meant that the overall profit dilution of the new store opening programme is lower.
A new 5 year £65 million (previously £42 million) debt facility has been negotiated, and although it carries higher costs, these are more than offset by the significantly lower cost rolling hedging strategy.
The ABM share price has increased by 14% over the last year.
Albemarle & Bond Holdings Plc is currently graded A by LCF Research. To learn more, follow the link.
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