Pittards Share Discussion Threads

[yoyoy] 21/12/2016 10:08

most of the NAV is inventory and that is more than 12 months of cost of sales and rising.

There is £5.5m of borrowings to sort out in the next 12 months (from the interims)

and £500k of interest to find.

I expect there is a large chunk of deferred tax shown as an asset.

and what proportion of the assets are held in Ethiopa and are they realisable or usable as loan security?

[clocktower] 21/12/2016 09:11

Nothing changes at PTD - the same old excuses just keep rolling out - huge stocks - slow sales - poor management - keep our jobs and roll along. If you could replace them all you might be looking at £1.50p a share.

[meijiman] 21/12/2016 08:40

The number of excuses for poor results never ceases to amaze. The rating suggests there is no faith in the management or the strategy.

[gbill11] 21/12/2016 08:32

Profitable leather business
NAV of £24M. Lots of juicy assets in there.
Market cap £10.5M

You've got to be in it to win it as my old Auntie Gertrude used to say.

[ben value] 15/11/2016 10:11

An earthquake in Yeovil would certainly improve the place

[meijiman] 14/11/2016 10:57

Expect the Pittards team will now start winding down for Xmas after their efforts. Still for some its another year of getting paid and the pension topped up.
I wonder what the next RNS will be about -probably an earthquake in Yeovil.

[meijiman] 11/10/2016 09:43

Yes its like a comedy show at Pittards. One is reminded of a circus with baggy trousered clowns throwing pies around.

[callumross] 10/10/2016 15:58

You have to admire this lot. If something can go wrong, it invariably does! Been watching company for literally decades and never seen any business so accident prone.

[meijiman] 05/10/2016 14:54

Its very unusual for sleepy Pittards to be troubling the scorers. Someone must have realised that the currency situation might be helpful -there again it might not.

[meijiman] 21/9/2016 09:10

Waste of time posting. Nothing will ever happen.Management will be there for ever as its run as a family firm not as a commercial company. Even 80 year old Godfrey has failed here........

[clocktower] 21/9/2016 08:13

Surprised that there has been no comment about another set of very poor figures together with such a small fall in the share price Is it that holders are resigned to the usual management statements about their own performance.

The whole board should be replaced sooner rather than later imo.

[prop_joe] 30/8/2016 13:08

No problem - 200p would be very nice!

[meijiman] 30/8/2016 12:46

Thanks -hopefully then it will stay above 100p and move back towards 200p in due course.

[prop_joe] 30/8/2016 12:40

I think it is operating profit.

They didn't use forward contracts to hedge in 2015 and 2014 so we might be lucky there. Sod's law means they might have hedged in 2016 but any hedges will drop out in time and sterling's weakness looks like it might be here to stay given the trade deficit, government borrowing more than targeted, uncertainty over impact of Brexit.

[meijiman] 30/8/2016 12:09

Does it say which profit line -operating profit I assume rather than PBT?
Trouble is given the usual incompetence displayed here they may have taken out a forward position at the wrong time ie bought $s forward just before sterling weakened.
But overall I think this company is in a better position -could be an overlooked sleeper!

[prop_joe] 30/8/2016 11:52

My simplistic view is that the company will gain from sterling's weakness as the annual report shows that around 90% of revenues are to customers based overseas and 73% of 2015 revenue was in USD (72% in 2014).

Helpfully, and perhaps encouragingly, the annual report states that the profit impact of a 10% change in the average USD/GBP exchange rate would have been £1.8m in 2015 and £2m in 2014. So very significant.

[meijiman] 30/8/2016 11:04

I note the shares are back to 100p. This company should be a gainer from currency though there are negatives. Quite complex to figure out as there is both transaction and translation effects here. Anyone have a view?

[my retirement fund] 03/6/2016 16:42

What’s Next for Pittards plc After Today’s Huge Increase?
by Franklin Staff — June 1, 2016


The stock of Pittards plc (LON:PTD) is a huge mover today! The stock increased 1.35% or GBX 1 on June 1, hitting GBX 75. About 20,757 shares traded hands or 21.38% up from the average. Pittards plc (LON:PTD) has declined 17.84% since October 30, 2015 and is downtrending. It has underperformed by 18.89% the S&P500. The move comes after 5 months positive chart setup for the GBX 10.49M company. It was reported on Jun, 2 by Barchart.com. We have GBX 166.50 PT which if reached, will make LON:PTD worth GBX 12.80 million more.




-------------------------------

Pittards exemplifies Ethiopia’s potential

[jaf111] 03/6/2016 13:21

Yes...that favoured word - potential!

(Sorry but it is Friday)

[meijiman] 03/6/2016 12:35

Perhaps the market thinks the new Chairman might be able to help create some shareholder value.There is potential for the share price to get back well over 100p providing the company can avoid messing up. The history though is not encouraging.
Even Godfrey failed to spark life in this old dog.

[jaf111] 03/6/2016 11:52

......and paying at least a 100% premium to the current share price.....

Looking forward to the RNS on Monday!

[clocktower] 03/6/2016 09:59

Maybe MUL will buy the company!

[jaf111] 03/6/2016 09:55

Some steady buying continues to push share price up.....is there something good pending or is this another false dawn???

[baner] 16/5/2016 20:14

mr Boyd is one of the most competent, humble, visionary industrialists that UK has ever seen - and the sun will rise in west tomorrow!

[arthur_lame_stocks] 16/5/2016 19:41

These would be interesting at this price if it wasn't for the fact that the stock levels are so high and go up all the time, why can't they turn some of that into cash? Are they tied into supply agreements or something? I thought they produced their own leather in Ethiopia or some such.