Pittards Share Discussion Threads

[mark2market] 06/2/2015 14:58

Nice to see growing optimism on the anniversary of the Mulberry connection being announced - maybe the goal of `doing a Mulberry' (20-bagger? 30-bagger?) is in play, with Pittards brands gaining international luxury cachet, and the Ethiopian operation expanding accordingly.
Pittards currently featuring at various US trade shows, such as NY Now (hxxp://www.nynow.com) and Project Show Las Vegas (hxxp://www.magiconline.com/project-las-vegas)

[captainhindsight] 06/2/2015 09:45

This has the smallest market cap of Investors Chronicle 2015 bargain share picks (todays issue). This paragraph particularly caught my eye:
'Another element that investors are not factoring in right now is that the slide in Pittards’ share price last year was primarily caused by a share sell down from activist investor Peter Gyllenhammar, whose investment vehicle Bronsstädet AB cut its stake from 18.25 per cent to 2.1 per cent after the company ended bid talks with a potential acquirer. That overhang has now cleared and with shares in Pittards basing out, directors buying at the end of last year, and the company now enjoying a significant currency tailwind, a recovery in the share price looks firmly on the cards.'

[momosu] 06/2/2015 09:22

Convincing break-out through the 200DMA, and out of the last six months' trading range - the 2014 decline largely due to one persistent seller, so no obvious resistance up to 200p (after all, NAV is 181p, so it's in deep value territory)
Strong dollar boosting revenues and tripling of production levels to meet demand, this is starting to look very attractive.

[jaf111] 06/2/2015 08:45

Yes one of IC's 2015 Bargain Shares....full list

MTVW, CRS, HAT, PTD, INSC, REC, NPT, ARBB, ABDP, SGI

[envirovision] 06/2/2015 08:20

Must have been tipped. IC ?

[momosu] 05/2/2015 14:43

Wow, a THREEfold increase in production!!!

Pittards has always been a BARGAIN share, but now must be feeling very bullish for the future - great news that demand is good and they're planning this level of expansion!

With this sort of momentum, who's to say the share price won't trundle up to the THREE pound level?

[jaf111] 05/2/2015 14:19

Agreed envirovision....perhaps should have said Note big IF and WHEN!

[envirovision] 05/2/2015 14:17

Perhaps 2016/17 however in the meantime there's going to be a load of exceptional costs which will take away all visibility

[jaf111] 05/2/2015 14:01

Interesting....and probably very profitable IF it happens.....Note big IF...

[mark2market] 05/2/2015 12:59

No RNS from the company, but Google Finance has picked up on positive news leaking out of Ethiopia (see

Ethiopia: Pittards to Boost Production by Threefold

Written by Alemayehu Bacha Published on 03 February 2015
Category: Latest Business Alerts

Pittards PLC, British company investing in Ethiopia, disclosed it intends to increase its production capacity by threefold in the coming two years.

According to Pittards Project Manufacturing General Manager, Tsedenia Mekbib, the company made investment in Ethiopia’s manufacturing sector for the first time in 2011 after it bought the government owned Ethiopian Leather Company.

In the past fiscal year Pittards earned USD 4 Million from the export of 100,000 pairs of gloves, Tsedenia explained. She furthered the company is working to boost Ethiopia’s foreign currency earning by 60 percent.

Currently Pittards manufactures industrial and fashionable gloves, leather garments and jackets. Its factory, upon establishment, had 80 employees. Yet this figure grew to 700 workers and it is still trying to increase the number of employees to 1500.

[meijiman] 05/2/2015 12:52

Well there you have it -the first reason for lacklustre profits. I understand that the company will be citing poor planetary alignment and an outbreak of boils in the Ethiopian workforce as negatives............

[envirovision] 05/2/2015 12:36

Have you checked with company, may be no news update prior.

Last years update was tacked on to a management change, so perhaps no news.

The sterling issue has not gone away.

The dress leather demand is under pressure with slowing far eastern growth.

I am not expecting any surprises to the upside in the finals.

[jaf111] 02/2/2015 17:07

Trading update last year 6 February so news imminent.

[envirovision] 02/2/2015 15:24

Edging up could well blow its top upon some relatively good news imo

[meijiman] 29/1/2015 22:07

I wonder if Pittards management has come back from Xmas holidays yet?. They were always slow starters to the year. There have been 12 reasons for profits not meeting expectations over the past 5 years I wonder what the next ones are.85 year old Godfrey has not yet delivered but may conjure something.

[jaf111] 29/1/2015 21:06

Thanks...not many companies are as helpful....perhaps rather surprising for PTD!

[oregano] 29/1/2015 13:45

they are on the website. I think £1.6m & £1.8m for last and this year.

[jaf111] 28/1/2015 17:30

Do you know what the WH Ireland forecasts were / are?

[oregano] 28/1/2015 17:09

interesting. WH Ireland appears to have reiterated forecasts a couple of days ago. I was expecting a profit warning.

[clocktower] 19/1/2015 17:08

Should get a trading update in a few weeks that could be very positive in light of all matters.

[envirovision] 08/1/2015 11:50

Well I must say despite the recent weakness the market makers are reluctant to sell them to me very cheaply at all, (Have just added).

[meijiman] 05/12/2014 13:23

something has to change here -can't see this rumbling along at 120p in a year's time. The directors may want it as they draw salaries for doing not alot -but the main shareholders will want some action.

[envirovision] 05/12/2014 12:47

Could be a good time to buy trend seems to have changed. 2015 could be instrumental imo

[meijiman] 05/12/2014 12:22

I note some disastrous figures from Mulberry. Note sure what 70 year old Godfrey brings to the party. He will have his hands full sorting out the mess that is Mulberry before devoting time to the cider drinkers favourite company. At least currency is positive I think -strong Dollar.

[oregano] 31/10/2014 14:36

it is a friday. i'd wager Simon Thompson has posted a piece.

a few new shareholders have hopefully finished off the overhang though.