Pittards Share Discussion Threads

[fillipe] 31/10/2014 14:21

123p paid for 4400 shrs, just now.

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[meijiman] 31/10/2014 11:32

That could be a good entry point. A very cheap share on most counts but so accident prone that most have given up. Notice the shares up a bit today.

[markgahagan] 23/10/2014 19:50

Bought some today for the long term. Trading below book value and it would appear last reported working capital!

[meijiman] 16/10/2014 11:52

Ted Hankey has bt some more -and the share price has gone down. Still there not be any connection. The Mulberry profits warning is not likely to impact Pittards though it hardly reflects well on Godfrey. Tough times.........

[oregano] 24/9/2014 16:37

which is why Artemis buying is good, concentrating power. they need a return to help performance. the Sweede does not.

[meijiman] 24/9/2014 16:20

Well that's the theory. If all turns out as above then it could turn out to be a good entry point. Can't the Swede and Artemis do some sort of cross and then both achieve what they want.
But the Pittards management has been in place for ages and achieved little -the Chairman doesn't seem involved. simply can't accept this is a well managed company that unfortunately every year gets hit by events it cannot control.
I thought we were 3 months into the second half having had recent interims.

[oregano] 24/9/2014 15:44

So the broker is forecasting (having confirmed numbers) £1.6m of PBT for the full year. This means £1.3m in H2, up £1m on H1 and £600k on H2 last year. cost savings and the strength of the $ are helping.

The company explained why cash generation was not good, capping off 18m of poor cash generation. This will reverse in H2.

Clearly things could work out differently, but the comment on current trading was quite positive, and we are 3 months through the first half.

So the chances are the next newsflow is going to be look quite good, and show a reversal of poor trends.

the overhang from the selling Swede is nearing completion, and Artemis are buying. Hopefully they can crack the whip.

All the usual stuff about a discount to NAV still applies, more director buying today post numbers.

buy whilst others are fearful / hacked off etc.

[oregano] 24/9/2014 11:04

Encouraging to see Artemis building their stake, and the Swedish overhang reducing. with a better H2 in the offing this should have bottomed.

[coolen] 23/9/2014 22:52

Would love to be a fly on the boardroom wall at the moment, especially if a certain Scandanavian was present.

[envirovision] 23/9/2014 13:21

Looks like a large seller may be out, but they had to take £1.14 for the last which is not nice, perhaps a moderate relief rally however the fact its after the results does not inspire confidence.

[battlebus2] 23/9/2014 13:17

Something is moving these higher and as you say the price is beginning to look a little rosy.

[oregano] 23/9/2014 12:42

interesting no change to brokers forecast post results. maybe brave. these guys need to be buying back shares given the discount to NAV.

[ben gunn] 22/9/2014 18:16

Cryptic reference to new consumer goods and bags.
Is there a Mulberry involvement?

[renew] 18/9/2014 08:45

Badly need to find some additional markets.
Own brand handbags seems a reasonable start.

[battlebus2] 18/9/2014 07:17

Poor results this morning mostly due to the strong pound and warmer weather meaning less demand for gloves etc. The value of sterling has improved so maybe a better year ahead..
Year ended 31 December 2013


Six months ended 30 June 2014

Six months ended 30 June 2013






£'m


£'m

£'m
35.8

Revenue
17.4

18.4






1.9

Profit from operations before finance costs and fx
0.6

0.9
0.1

Gain (loss) on foreign currency translation
(0.1)

0.2
2.0

Profit from operations before finance costs
0.5

1.1






1.7

Profit before taxation
0.3

1.0






7.1

Net debt
7.5

6.7
16.9

Net assets
16.8

17.1








Per weighted average ordinary 50p share (pence)



15.68

Profit (basic)
3.07p

10.12p
182.97

Net assets
181.71p

184.54p






42%

Gearing
45%

39%

[meijiman] 12/9/2014 08:46

Difficult to see how management with this record can stay in office -must be a very cosy arrangement with non-execs, and institutions too supine to demand change.Chairman seems distracted by other things.....

[coolen] 11/9/2014 23:21

£50 would indeed be a fair recovery target on the original share capital had PTD not issued bucket loads of confetti (ie. zillions of new shares @ 1p) to the main shareholder some years back.

[twirl] 11/9/2014 20:14

B a few Tuesday via self trade and trades not shown and no impact on price. Do we have a seller.

[meijiman] 11/9/2014 10:52

£50?! that would be nice. The pound is much weaker than it was. What now can go wrong or be used as an excuse. Maybe too much sunspot activity or poor planetary alignment.Maybe inability to focus on the job after 15 pints of scrumpy.

[clocktower] 29/8/2014 18:43

It has been 10 years going down hill because of poor management but with the right people running this it could recover to those early highs and that would be about £50.00

[phat hair] 29/8/2014 18:31

Let's keep these positive thoughts going! This has been a total disaster for me so far.

[clocktower] 29/8/2014 16:41

The business has a long history and supplies many fine brands and to ensure their suppliers, I would not be surprised to see an offer for the company from one of those at much higher levels. Maybe good timing battlebus2 in view of the small directors purchases a short time ago.

[battlebus2] 29/8/2014 16:30

Did Simon Thompson give these a mention today hence the rise or is something else afoot either way i'm back in for a few...

[twirl] 30/7/2014 21:01

Much nearer to £1 and will be tempted. As far as I can see(not far I admit with ptd) the main problem is currency and not the business. Do I think at some point $ strength will increase vs £