Pawnbroker Albemarle & Bond posted a 5% increase in annual pre-tax profit and a 24% rise in revenue as gold prices rocketed.

Pre-tax profit rose to £21.0m for the 12 months ended 30 June 2011 compared to £20m the year before. Revenue increased to £101.9m from £82m previously.

Chief executive Barry Stevenson said he believed it was a good set of results in a period of transition.

The group, which is undergoing a new store opening programme, said it has experienced an encouraging start to the new financial year.

Pledge book grew by 21% and gross profit from pawnbroking rose to £31.5m from £28.2m. Gross profit from gold buying rose 27% to £14.6m. Other Financial Services revenue rose 16%.

"Exceptional growth in the pledge book year-on-year has also aided these results, although this will start to normalise as we come up against tough comparators from last year," Stevenson added.

A dividend of 12.50p has been offered, up from 11.75p the year before.


CJ

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