UK pawnbroker benefits from downturn

The UK's biggest pawnbroker today said the reluctance of banks to lend in the credit crunch had worked in its favour after annual profits rose by 47%.

Albermarle & Bond reported annual revenues of £46.9m (€59.2m), a gain of 43%, and lifted adjusted profits for the year to June 30 to £10.3m (€13m).