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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/pawnbroker-buoyed-by-strong-demand.jpg"><img class="alignnone size-full" title="Pawnbroker Albemarle and Bond has been buoyed by a strong demand" src="http://londonglossy.com/wp-content/uploads/2011/02/min-pawnbroker-buoyed-by-strong-demand.jpg" alt="Pawnbroker Albemarle and Bond has been buoyed by a strong demand"/></a></p>
<p>Albemarle &#038; Bond has reported soaring demand for its pawnbroking and gold buying business as it attracts new customers looking to free up cash in the economic gloom.</p>
<p>Albemarle, which is Britain&#8217;s biggest pawnbroker with 148 stores including the Cheque and Pawn and Herbert Brown brands, said the value of items in its pledge book increased by 32% in the final six months of 2010.</p>
<p>Its gold buying and selling business, which operates an additional 38 small shops, handled double the value of goods compared to a year ago as it benefited from people cashing in their old jewellery to take advantage of soaring prices of the precious metal.</p>
<p>Although revenues increased by 24% to £48.8 million in the half-year, profits were down 1% to £11 million after it paid to open 16 shops and 23 gold buying outlets.</p>
<p>Albemarle, which this month announced it is to sponsor the new world darts champion Adrian &#8220;Jackpot&#8221; Lewis, is due to exit a gold hedging contract in June that at current prices will boost its profits by £3.4 million a year.</p>
<p>It will also open 25 stores a year as part of its expansion plans.</p>
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