Albemarle & Bond lifted by surge in price of gold

PAWNBROKER Albemarle & Bond saw profits rise five per cent as demand for short-term loans rose sharply and the rise of the gold price boosted business.

Group pre-tax profits rose to £21m in the year to June, on revenues that were 24 per cent ahead at £102m. Profit from short-term lending rose 15 per cent to £31.5m.

High gold prices meant profits at its gold buying business jumped 27 per cent to £14.6m. The final dividend was declared at 9.75p, making a total payment for the year of 12.5p, up 6.4 per cent year-on-year.