deepsleeves
18 Feb 2018
Troubles in Ethiopia If things get out of hand the impact on PTD will be significant but not sure how it could be quantified at this point in timeDeep
deepsleeves
06 Sep 2017
Upward momentum SP seems to have drifted upwards by about 10% in the last month against a static or falling market. The £/$ exchange rate has not changed, stable around £1.3 to $ and I have not seen any news from Ethiopia.Anyone got any other thoughts what could be the driver for the recent SP increase?Deep
deepsleeves
23 Mar 2017
Re: Stock control Just read some more detail in the Final Results quickly and it is not a pretty picture.The write down on "low end" dress and sports leather - nothing new in that and should never have been allowed to happen. Stock [over]valuation is always a temptation and a quick win in the profit improvement stakes.Lots of waffle about new management team and strategic priorities... Bla Bla Bla. Also a suggestion that the business will move more towards a hide based business. Surely odd as Ethiopia may well have the finest hair sheep leather but it is not likely to have quality cattle hidesCash is a disaster with net debt up by £3.6M and headroom on facilities of £2.9M - good job they raised £5.2M last year [at £1.20 I think] cannot see that happening again any time soon...Deep
TX2
22 Mar 2017
Re: Stock control Yes I have had doubts about the book value of stock for some time;it still seems very high in relation to turnover even after this write off.The level of debt is very high.The brand has possible value but difficult to make a case for investment until we see some sign of progress;company could need additional shareholder capital.
deepsleeves
21 Mar 2017
Stock control £4.3M write down suggests some serious lack of control over the fundamentals of the business that does not bode well. Disappointing also that the new Chairman talks about scaleable manufacturing and business pillars... What about the push to retail and brand recognition?Deep
TX2
11 Oct 2016
Ethiopian Problems. Hopefully Pittards will not be affected as it is an important employer directly in Ethiopia & its local buying of hides is a major source of income for farmers & has done a good job even if as yet returns have been modest.
TX2
20 Sep 2016
Results! Dire in my opinion.......Sadly Pittards continues to fail to deliver,and frankly I see little chance of improvement.Quite simply the company seems to turn over its stock about once a year,in which the vast amount of supposed asset value is tied up,and makes at best minimal net profit.Presently a pointless business alas.......
TX2
23 Jun 2015
Downing Microcap Investors Chronicle Simon Thompson thinks 16% stake by above fund anounced a couple of weeks ago is significant.We certainly need a boost........!
TX2
17 Feb 2015
Re: Trading statement OK Pittard's name is well known for leather but perhaps not associated with individual products eg Handbags,coats etc.Daines & Hathaway also has a fairly modest public awareness,which is perhaps the brand name they will build on.Hopefully our patience will be rewarded eventually!
deepsleeves
17 Feb 2015
Re: Trading statement OK PharmaPittard's heritage is in producing leather rather than leather products but regardless of such details and given recent purchases if they could become a "retail brand" it would transform the share priceDeep
pharmaspecialist
17 Feb 2015
Trading statement OK Today's trading statement was described as "in line" by the Investors Chronicle and confirms Simon Thompson's view that the shares remain in bargain territory, on what he believes is likely to be only 9 times prospective earnings and a 25% discount to book value. The company's weakness remains its inability to deliver steady earnings growth over a long period but, having held the shares for a few years, I am now feeling more confident about its prospects, at least for the short term. For the longer term I hope the company will be able to use the expertise of its non-executive director, Godfrey Davis (ex Mulberry CEO) to exploit the retail market for luxury leather goods. Initial signs suggest that progress is being made in this area and success would provide a huge boost for Pittard's margins. Unlike Mulberry and Burberry investors may note that Pittards actually has the expertise to make luxury leather products and it has an English heritage which pre-dates Burberry by about 25 years!
TX2
16 Feb 2015
Investors Chronicle Tip! The modest recovery in shareprice has been caused by being picked as a "Bargain Share " for 2015 in Simon Thompsons Portfolio at the begining of Feb.Hopefully it will perform a little better than some of his previous tips!!!!!!
Remakasiwi
02 Feb 2015
Had a trading update on 6th. Feb 2014. Any likelihood of one soon? Anyone read this discussion board?
