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.
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 »
.png)
