Pittards Share Discussion Threads

[meijiman] 22/9/2015 08:59

The issue here is not a softening of market conditions- there is not much you can do about that -more the opportunities missed over years and years to restructure or sell this. Clearly if the main shareholders are happy with the way things are then its a vote for more of the same. You may well be reading a release in 2021 talking of softening market conditions blah blah and the shares at a pound.

[my retirement fund] 22/9/2015 08:58

Know doubt investors chronicle will be tipping them saying they dont understand why since their last recommendation its done so badly and how it looks even better value now etc.

[clocktower] 22/9/2015 08:04

Today's figures and report show the same old pattern as established for many years, those that stumped up the cash for the purchase of the property and extra funds will be very concerned unless of course most had already been dumped one way or another.

imo this will soon be sub £1.

[my retirement fund] 21/8/2015 15:03

The sort of incessant tipping from rags like IC do nothing to stop greedy and unfair managerial practices which only serve to cheapen intrinsic equity value and dividends.

[meijiman] 26/6/2015 12:31

My plan would be to reduce the salaries here
pro-rata to the company's underperformance against the wider market.
That would shake up this bunch of deadlegs....

[clocktower] 26/6/2015 12:08

So they are rewarding themselves generously on Sales Growth, not on profit growth or on dividend payment and growth, or even share price growth but on sales growth. The board have failed investors year after year and still have the nerve to reward themselves before investors imo.

www.investegate.co.uk/pittards-plc--ptd-/rns/long-term-incentive-plan/201506261200023505R/

[meijiman] 20/5/2015 11:41

Have to agree with most of these posts. Unclear how/why this dozy management retain their positions when year after year there is nothing for shareholders.
Guess it boils down to
1. Weak Chairman not wanting to rock the boat
2. Insufficient pressure from the main institutional holders to initiate change.
I thought Godfrey might wave magic dust here-maybe he still can.
They seem more bothered about Ethiopians than Uk shareholders.
Even the broker notes don't make much of a convincing case for why these shares are attractive.

[john980] 20/5/2015 11:08

my 2 cents:
-they keep burning cash, year after year (so no dividend)
-another issuance of stock to support business
-inventory is building up
-management is talking about how undercapitalised their business is, instead of focusing on return on capital.
-Peter Gyllenhammar has completely sold out (he timed this one pretty well; made a decent profit from the restructuring and on he goes).

full disclosure: I've sold out a while ago. I need to see signs that the management is taking a different course before I get back in...

[my retirement fund] 12/5/2015 16:18

With regards to the ugly face of pecking orders. Most plc's manage to get away with aving over their shareholders by putting the board infront of them.Ptd seem to get away with it by putting customers, suppliers, staff, management, the board, the whole cher bang infront of its shareholders.

[my retirement fund] 12/5/2015 16:10

To many is the answer. Not in the habit of creating shareholder value so proves the trackrecord.Pitty the long suffering shareholdersIf there are any left that is.Most have come and gone.Gylhammer even left with his tail between his legs last year after having supported the pre consolidation fund raise last time.

[spob] 12/5/2015 15:53

Any long term holders here ?

Just wondering how many times have pittards done a fund raising over the last 10 years ?


Anyone know ?

[philw2009] 12/5/2015 12:57

Recommended in IC again today by Simon Thompson.

I bought a small amount for my SIPP because I couldn't resist it for some reason.

What the hell happened between 2004-2008??

[clocktower] 08/5/2015 15:00

Goods news as far as buying the factory back but there is dilution and it might take some time to start seeing some upside on the share price imo.

[meijiman] 17/4/2015 17:02

Godfrey is spreading magic dust here as the cider drinkers watch and applaud.Marketing versus production. Apparently some women will spend £100 on a bag-madness when you could buy golf shoes for less.Still the price of the shares is higher and they remain cheap.

[oregano] 25/3/2015 13:22

EV - you have to make stuff before you can sell it. Selling is not entirely predictable.

[envirovision] 25/3/2015 09:46

Indeed, but on the other hand why have they expanded their tanning facilities if they cant move the stuff they are processing quick enough ?

[oregano] 25/3/2015 09:42

higher stock is a function of some specific pockets of weak demand, as highlighted in the statement. IMHO, not a problem here, as finished leather does not change from season to season so the change of a write down is low.

PTD did £1.3m of PBT in H2, there is no seasonality to this business, so unless some of the risks come to fruition that we know about, weak $, higher skin prices for e.g, there is material upside to forecasts of £1.9m - these are low ball numbers.

[envirovision] 23/3/2015 13:30

Stock is always a worry, open to currency losses and implies markets slowing or bad management or both

[oregano] 23/3/2015 11:59

only thing unexpected here is stock build. Cash performance once more remains poor. It will be interesting to hear whether the growth ambitions require more working capital. I would think results this year will be well up on last.

[az4hr] 23/3/2015 09:27

but what were ppl expecting it was already stated that results were marginally below expectations

[renew] 23/3/2015 09:26

Certainly no growth and no divi!!
Im not an accountant but inventory increased by approx same as profit???