Renaissance for pawnbrokers

Article Abstract:

Albermarle and Bond is a pawn broker which provides finance who people who banks prefer not to deal with. The company is expanding, and stores take a while to become profitable, so, while this has initially led to disappointing results, profit growth should be achieved over the longer term. Pawn broking accounts for some 67% of revenue, and the company also cashed checks and makes loans until borrowers are paid, as well as selling unredeemed articles. EZCorp holds 29.9% of Albermarle and Bond.

Albermarle and Bond

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Rich pickings from grubby business

Article Abstract:

Albemarle and Bond's main business is pawnbroking, offering loans for gold objects which are sold if the objects are not redeemed. The company also cashes checks for clients with no bank accounts. Bad debts are not a problem and clients have to provide a home address. The company's new shops achieve a profit after 15 months with start-up costs at some 100,000 pounds sterling. The company's profit is forecast at 1.4 million pounds sterling by Rowan Dartington for 1996 to 1997.

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Albemarle and Bond

Article Abstract:

Albemarle and Bond has finished an expansion program but still has the problem of some unprofitable stores.

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