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PTD Pittards Plc

5.375
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pittards Plc LSE:PTD London Ordinary Share GB00BM8NGB73 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 5.375 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Pittards Share Discussion Threads

Showing 326 to 350 of 1500 messages
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DateSubjectAuthorDiscuss
08/1/2014
11:38
Trading update was issued on the 15th last year which is the same date for the general meeting to approve the share consolidation so maybe a positive update to go along with it this year. Next Wednesday!
battlebus2
07/1/2014
09:30
The upside for Pittards is massive-they are a small fish in a big pond-it would be interesting to know where the bid came from...and whether it will stir others to enter the fray
addict
07/1/2014
07:57
J.Lindeberg Extends its Pittards Tech Leather Ski Range
6th January 2014


Active lifestyle brand J.Lindeberg will show its premium ski wear collection, featuring Pittards WR100X water resistant leather at ISPO in Munich next month. Headquartered in Stockholm, Sweden, the J.Lindeberg brand is sold in over 35 countries and 900 stores worldwide. The current Tech Leather jacket is already a favourite of skiers that demand technical performance combined with impeccable style and for AW 2014 J.Lindeberg is launching additional Pittards leather styles for men and women.

Design Director Frederik Dahl explains, "Pittards has been manufacturing leather in the UK since 1826. They are constantly at the cutting edge of leather innovation and this has enabled us to offer the most technical leather and in doing so, provide our customers with the best tools to achieve higher performance."

battlebus2
06/1/2014
18:51
Yes and great to see decent volume. Still a long way to go imv could this be the year of Pittards.
battlebus2
06/1/2014
14:43
Great to see so much interest on this BB.
The dividend hike delayed by the share re-organisation may see a serious log-jam
to progress removed.

ben gunn
06/1/2014
12:16
Moving again :))
battlebus2
06/1/2014
10:52
Not long to go for the consolidation to be pushed through.I have a feeling we haven't heard the last of the 'unsolicited bid',time will tell.DYOR
addict
03/1/2014
17:17
A very promising day here with decent volume.
battlebus2
03/1/2014
13:58
New year resolution is to get up to speed on Pittards. I've just watched the corporate video and its really rather good. Stunning girl around 2 minutes in.
Now I'm wondering why if the products are so good they don't make more profit. Anyway I'm doing my bit with my FJ golf gloves -they are superior to other gloves IMHO. I shall be doing more homework.

meijiman
03/1/2014
13:50
Did you not read my NFSC write up a few posts back, plenty of links with info.
battlebus2
03/1/2014
13:41
You can traet yourself here meijiman
hxxp://www.pittardsleather.co.uk/

twiggy2
03/1/2014
13:39
Let's hope so as the story here should be improving and it may attract some new investors. It could certainly be a good year with a dividend to look forward to and possibly renewed takeover activity.
I for one would like to know more about where their leather ends up -is it gloves/jackets/car seats. I can't recall seeing much on the company web site.
Are there any brokers notes on this company.???

meijiman
03/1/2014
13:23
There will ofcourse be news with results and possible accompanying news on dividends and maybe a surprise or two who knows :))
battlebus2
03/1/2014
13:10
what 'news throughout the year?' The company do not do news.
However agree that this could be a very good play for 2014.

meijiman
03/1/2014
13:07
Yes very nice indeed twiggy. Hopefully we can hold and move on with news throughout the year.
battlebus2
03/1/2014
12:59
Nice to see a move up.
twiggy2
30/12/2013
16:13
Thanks BrianGeeee, can't see it beating CRAW from last year but yet again it's another overlooked traditional quality British business.
battlebus2
30/12/2013
16:09
Good choice BB2! I'm a little concerned about $/£ weakness, but not too sure how significant it will be.
briangeeee
30/12/2013
16:05
My choice for the NFSC 2014 is Pittards. (PTD) quoted on the AIM market.

Based in Yeovil in Somerset Pittards is a supplier of high performance leather for many major brands of gloves, luxury leather goods and sports equipment. They have been making leather at the tannery in Somerset since 1826. Far from being a U.K. enterprise they have truly a global footprint with operations in Africa and Asia and export to over thirty countries.

hxxp://www.pittards.com/

They are also the owners of Daines and Hathaway which has been making fine leather goods for over 100 years.

hxxp://www.dainesandhathaway.com/

Pittards supply to most of the worlds top brands like Nike, Fortjay, Marmot, Hermes, Mulberry and Louis Vitton.
To continue the companies growth strategy they bought the Ethiopian tannery from the Ethiopian government in 2009 which they had been running since 2005. This is Ethiopia's largest tannery and is over three times the size of the Yeovil plant. This was a very sound investment imv with a willing labour force and a ready supply of Hair sheep which make quality finish product. The investment into the Ethiopian plant continues and is beginning to show the rewards.



The Ethiopian factory has freed up resources at the Yeovil site which had allowed it to concentrate on advanced technologies and higher value leather and has now become the Innovations centre. This is the bit that excites me and after a recent trip to the factory where among the many things they are currently working on includes a fireproof glove.
Check out this short video..

hxxp://www.brasher.co.uk/technologies/pittards-leather

On to the financials, Pittards currently trades at 2.75/3.25 which gives it a market cap of 13.89 million.
From the last interims turnover was similar 18.4/18.3
Profit before finance increased significantly 1.1/0.1
EBITDA also improved to 1.455/ 0.525 in 2012.
Gearing is a manageable 39%



According to Digital Look forecasts
31st Dec 2013 31st Dec 2014
rev 37.5 rev 40
pre tax 1.8 pre tax 2.7
EPS 0.4 EPS 0.5
PE 7.5 PE 6
EPS GROWTH+198%

They also recently restructured the balance sheet which now shows retained earnings of 6.93 million verses a negative of 7.68 in 2012 and are in the process of a 1-50 share consolidation currently 463,101,935 shares in issue held by only 1526 holders to 9,262,039 with the intentions to pay dividends later in the year.
They also recently rejected an unsolicited cash offer for the company on the grounds it while a premium to the market price it significantly undervalued the company.

I certainly agree given current and future prospects and given the transitional year there is scope for the shareprice to double or even treble if another bid comes to the door but as ever DYOR.

battlebus2
20/12/2013
09:41
To be fair though pretty much every share consolidation I have seen has resulted in a lower initial price, so it may present another chance to buy for the bulls.

It will certainly wake up the sleeping shareholders.

envirovision
20/12/2013
09:03
Clocktower not many will hold less than 50 shares and the max you will lose if you hold 49 will be £1.35 which wouldn't be worth selling in any case.
battlebus2
20/12/2013
08:56
Once done they might want to raise funds for some other mad hatter idea. They also get rid of tiny stakeholders that in turn benefits whoever picks up the stock.
clocktower
19/12/2013
18:56
Excellent news a 1 for 50 is more like it and much better than the 1 for 10 i had thought. At todays price 137 v 162 but with real spread 144 v 155

Proposed Consolidation of Share Capital

Pittards, the specialist producer of technically advanced leather and luxury leather goods for sale to retailers, manufacturers and distributors, announces a proposed consolidation of share capital designed to reduce the number of shares in issue to a more manageable level to facilitate the payment of dividends and to reduce the spread between the best bid and offer prices at which the shares trade on AIM.

The Company has convened a General Meeting for the purpose of approving the proposed consolidation which will be effected by a 1 for 50 issue of new ordinary shares.

The General Meeting has been convened for 15 January 2014 and, if the resolution is approved, trading in the consolidated shares should begin with effect from 16 January 2014, the next business day following the GM..

The Board considers the proposed consolidation of share capital to be in the best interests of the Company and its Shareholders and unanimously recommends shareholders to vote in favour as the directors intend to do in respect of their beneficial holdings totaling 28,141,367 shares, representing approximately 6.1per cent of the shares currently in issue.

In addition, the Company announces the resignation of Louise Cretton as a director of the Company to pursue other business interests. The Company thanks Ms Cretton for her valuable contribution during her period of 12 years as a non-executive director which has seen the Company undergo some transformational changes and wishes her well in the future. The Company has commenced the process of finding a replacement and an announcement will be made in due course.

battlebus2
13/12/2013
09:29
the board springs to life. Good questions all-the trouble is no-one knows and for sure there will be no news whatsoever from the company until the next formal
results. Its not the way to engage with shareholders or keep them interested. Does Pittards have a financial PR advisory company. If not then the FD should step up to the plate. Easy enough to bang out out some stuff about record leather production from the Ethiopia plant-whatever. Anyway its now Xmas so the management here will be commatose till New Year.

meijiman
13/12/2013
09:14
coolen, I assume you are suggesting that these rising prices have been an excuse for losses rather than profit in the way that pawn brokers profit from higher gold/silver prices.Surely, only if you are unable to pass these increases on should your margins suffer.
clocktower
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