A&B warns gold boom is slowing
There was a profit warning in all but name yesterday from the pawnbroker Albemarle & Bond, one of the few businesses that can honestly claim to have found the extended recession a boon to business – at least until now.
The past few years have seen a rush of people looking to cash in gold jewellery. A&B said this arm of the business is still growing but less quickly than before, from a 50 per cent growth rate in the first half of the year to "middle single digits".
A lower gold price has also hit volumes and margins.
A statement said: "It is too early to tell if this is a reflection of the reduction in footfall from the very wet weather … or a developing trend."
The broker Daniel Stewart called the news a "thinly veiled profit warning". Analysts had been expecting A&B to make nearly £24m profit this year. It will now fall short of that. A&B has 215 stores across Britain.
Emergency landing at Heathrow sparks further controversy over London airport capacity
Unrest may spread across Europe, warns Red Cross chief
French government seeks to ban extreme right-wing group
BNP and EDL accused of attempt to fuel racial hatred after Woolwich terror attack
You want to get an Eton scholarship? All you need to do is answer four (not so simple) questions
- 1 What, let gays get married? We must be bonkers
- 2 Rocky Horror star Tim Curry 'suffers major stroke'
- 3 Exclusive: How MI5 blackmails British Muslims
- 4 Lord of the Sings: Sir Christopher Lee, 91, to release heavy metal album
- 5 Exclusive: Woolwich killings suspect Michael Adebolajo was inspired by cleric banned from UK after urging followers to behead enemies of Islam
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Get the latest on The Evening Standard's campaign to get London's children reading.
Win anything from gadgets to five-star holidays on our competitions and offers page.