Gold rush boosts A&B profits
Related articles
Albemarle & Bond said its gold-buying service contributed nearly a fifth of total profits in its first full year of operation.
The company said an "explosion" of advertising in the sector raised customer awareness of the price of gold – which hit a record $1,300 an ounce this week – leading to an increase in profits for the 19th year in a row.
Albermarle has offered gold-buying services alongside its core pawnbroking business in its main stores since 2009. In the last financial year it has also trialled temporary "pop-up shops" in shopping centres to buy gold.
Albermarle posted a 26 per cent rise in gross profits to £53.6m, of which gold-buying contributed £11.5m. Pre-tax profits saw a 37 per cent rise to £20m. The company, which hopes to increase the number of pop-up shops from 19 to 25 in the current year, said it saw a long-term future in the gold-buying business.
-
That's some guestlist! Stunning images show huge dynastic wedding between Ultra-Orthodox Jewish families which attracted 25,000 guests
-
Emergency landing at Heathrow sparks further controversy over London airport capacity
-
Two bailed after arrest over Woolwich attack Twitter comments
-
Exclusive: Woolwich killings suspect Michael Adebolajo was inspired by cleric banned from UK after urging followers to behead enemies of Islam
-
Men arrested after RAF jet is scrambled to escort Pakistan Airlines passenger plane to London Stansted Airport
- 1 What, let gays get married? We must be bonkers
- 2 'Something passed underneath us, quite close': Airbus A320 has close encounter with UFO
- 3 Rocky Horror star Tim Curry 'suffers major stroke'
- 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
Get your summer started with British Military Fitness
BMF is the UK’s biggest and best loved outdoor fitness classes
Visit York
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Making reading fun for kids
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Introducing the 'Get Reading' campaign
Get the latest on The Evening Standard's campaign to get London's children reading.
Enter the latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Business videos from commercial thought leaders
Watch the best in the business world give their insights into the world of business.
Day In a Page
The man who's eaten everywhere
A Berliner in 1963 – but did John F Kennedy once admire Adolf Hitler?
Banned Iranian director to attend Cannes Film Festival
The 10 Best salt and pepper sets
Ferran Soriano: Predicting success if Manchester City 'vision' is followed
Edward VIII’s phone calls - and how MI5 bugged them


Comments