Albemarle & Bond, the UK based pawnbroker and financial services company, announced in the May update that final results to June 2011 are anticipated to be at the top end of analyst expectations. During the four months to April 2011 the pledge book has grown 29.9% on a like-for-like basis.

Store openings in 2010/11 are expected to total 28, with new stores continuing to perform ahead of expectations and achieving breakeven after 12 months which is a significant improvement on historic norms. The year end estate is expected to total 200 units (2010: 147).

A new product, called Payday Anyway, a short term debit card based loan, will be launched in all stores by June 2011.

Based on company research comparing the UK to the US market, there is scope for over 3,000 pawnbroking stores in the UK, against the current figure of around 1,200 stores.

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