Strong demand for its pawnbroking services and the acquisition of a rival boosted pre-tax profits at Albemarle & Bond from £7m to £10.3m in the year to June.

The group, an 111-store chain of pawnbrokers that also makes unsecured loans, said that demand for its services had increased as customers found mainstream lenders had tightened credit terms. Charles Nicolson, chairman, said: “Demand for rapid access to small flexible loans with no upfront fees is increasing.”