Updates

Albemarle & Bond

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.

Full year results reflected the trading statement in July when Albemarle cited there had been changing market dynamics in the gold buying market since spring, with increasing competition impacting on volumes and margins. Despite that setback, Albemarle still managed to grow its pretax profits, albeit marginally, up from Â£21m to Â£21.4m. Eps were slightly ahead at 28.5p up from 28p.Albemarle ended the full year with 234 stores (184 full line stores and 50 gold buying kiosks) with 14 new full line stores opened in H1 and another 11 in H2 to get to 25 units, a record. Gold scrapping contributed an astonishing Â£21.7m gross profit, an increase of 49% in this year (having been up 87% in H1) but Albemarle has seen Q4 volume ...

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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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