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Share Name Share Symbol Market Type Share ISIN Share Description
Pittards Plc LSE:PTD London Ordinary Share GB00BHB1XR83 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.50 -3.91% 61.50 60.00 63.00 64.00 61.50 64.00 66,531 10:37:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Personal Goods 15.2 -2.3 -17.7 - 8

Pittards Share Discussion Threads

Showing 926 to 949 of 1050 messages
Chat Pages: 42  41  40  39  38  37  36  35  34  33  32  31  Older
DateSubjectAuthorDiscuss
24/5/2021
21:39
btw Vivobarefoot turnover to end June '20 was £14 million & Pittards Ethiopia turnover was quite low, was it £2 million, & that includes sales from the tannery for sales to anyone & fabricated products so, one could imagine a positive impact on the financial numbers for Ethiopia if they got just 10% of the annual turnover from Vivobarefoot (£1.4million) it would be a big jump for the Ethiopian subsidiary, (& ~20% would be ~£3 million, a sizeable change for Pittards Ethiopia (& various costs would see little or no change, electricity, directors' pay, security, personnel dept, wages accounting dept. etc, so the bottom line profit/loss would improve)
smithie6
24/5/2021
21:26
interesting idea, Chinese or Japs buying Pittards Ethiopia & getting the UK bit thrown in ! whereas most of looked at the other way around (Ethiopian part being thrown in) the value in a takeover would be higher than current cap. value. ~ £15 million of stock & then the value of the sites & machinery etc (the UK site is owned)
smithie6
24/5/2021
20:03
Spot on S If demand has recovered, as reported in China, so will have the demand for leather. In addition the Chinese have set up a lot of the shoe production in Ethiopia and will I expect be having to find completed supplies of skins to meet production demands. Your last post and comment about other brands will I expect do as you say and turn to Pittards or even consider buying them as not only is it the quickest way to market but you obtain all the skilled staff at a knockdown price plus the British tannery and business. Why they have not already jumped in while the COVID situation caused the share price to fall along with some of the business, as it was bound to recover sharply as vaccines became available. If the likes of you and I could find the cash to remove the BOD and then run the show, I am sure the company would become as successful as SL.
clocktower
24/5/2021
19:08
Ethiopia "only 50% of hides and skins potential are being utilized currently" 'Ethiopia is 9th in the world for number of cattle' "Export of leather, which was US $ 23 million in 2013 reaches US $ 133 million in 2018." "Policy and Strategy [of Ethiopia] In the GTP II, the leather sector export and employment target by 2020 is USD 800 million" other brands want production in Ethiopia, eg. from Japan, a good chance imo that some of these will decide it is easier to contract Pittards Ethiopia rather than pay the set up & management costs to have their own factory.
smithie6
24/5/2021
18:55
thanks for those links the vivobarefoot accounts were ...different ! a bit whacko perhaps they claim they want a new world, new economy, but the cost of the directors is about 1/5 of the total staff costs, at £0.9-1 million it is a lot for what was a startup not long ago & seems very much 'old world' !! & where the MD narrative for the review of the year reads like a sequence of randomly hopping from one disaster to the next !, under his guidance !! sounds like they had real production problems in China, so moved to use Vietnam, & again problems, which then imo gave Pittards Ethiopia a chance. Hopefully the years of experience making gloves (intricate/complicated) & UK owners giving some guidance/supervision/help to local directors has given a good production experience for Vivo using Pittards. The amount of overheads at Vivo as a % of sales looks too high imo, but I guess they are trying to grow so profit now is not their driving goal. £34 million in those accounts to end of June 2020. Fingers crossed that Pittards Eth. saw good business from Vivo since then.
smithie6
24/5/2021
16:15
Http://www.investethiopia.gov.et/investment-opportunities/strategic-sectors/leather-shoes-and-leather-products
clocktower
24/5/2021
14:56
It seems we are the only ones now on this thread S - and it seems much like Mulberry there is little interest at present in undervalued stocks that are unlikely to casino stocks the likes of TERN and a host of companies that are anything to do with Covid-19 research. It is undoubtedly going to take more positive news for it to jump past 60p but a TS is due I guess in July or there might be other positive news before then, if there is any substance in the rumours that were published a while ago.
clocktower
24/5/2021
11:43
hxxps://leatherukdirectory.co.uk/directory/holmes-halls-processors-ltd/ looks like a biggish one in England & 1 in Devon J & FJ Baker & Sedgwick & co . Walsall in 2015 became part of Clayton Leather group & 1 in Bristol with Pittards I think those are the 4 biggest in England for processing tanning beef/cow hides & Scottish Leather is the biggest in Britain (so their entry says, & they use Scottish animal skins) ----- Pittards is I think the only one that is listed on a stock market & the only one that also has a tannery & a lot of workers in another country, Ethiopia. Mulberry is also based in Somerset, like Pittards, & they say, I think, that they make 50% of their bags in the UK, they have 2 factories in Somerset, the 2nd one opening in 2013 & they don't have a tannery, so it looks almost g'teed that they get a lot of their leather from Pittards & if they have surplus demand it would be logical to use Pittards Mulberry have their own shops & big digital presence & a big catalogue & sell >£1000 million/year so, they probably don't see Pittards (with Pittards UK having a turnover of only ~£13 million (& only a % coming from selling ladies bags etc), as a risk to them Mulberry have seen a tick up in business in recent months. one would assume Pittards as well (& since Pittards is so cheapily valued wrt its assets it's share price could easily rise a fair % if there is a 'good trading announcement')
smithie6
24/5/2021
09:02
How many Tanneries are there in the UK I think you asked S,so I have provided a link for anyone that may be researching anything about it or PTD's prospects. leatheruk.org provides a list of nearly all tanneries I believe, it is also a useful source of other information about the industry. Https://leatherukdirectory.co.uk/cat/tannery/
clocktower
23/5/2021
15:29
I read an article that Scottish Leather is one of the biggest tanneries in Europe & that most of the UK skins go abroad for processing to China/Asia & Italy. Scottish Leather seem perfectly able to do tanning & make money doing it. Decent margin & got ~£30-35 million in the bank !! ( will Pittards now start to achieve the same after their Capex in recent years ??) The costs for shipping a container to/from China have apparently gone x3, in last 18 months (noting that to transport raw skins to there to then make products in China & sell bags etc in the UK the material has 2 trips, there & back, so is there is quite a delay, & I assume an import tax to pay) (& some tanneries in China have closed due to pollution reqts; & China is having a big push to improve water & air quality) so these things help Pittards & the Suez canal was blocked for a time
smithie6
23/5/2021
14:48
other tanneries in England Thomas Ware Ltd Bristol. only ~35 staff. quite small. & Pittards UK is small imo, ~160 staff, & ~13 million of turnover from PTD UK somewhere there must be a big tannery in England, since for all the milk & beef there are a lot of skins
smithie6
23/5/2021
14:45
I've seen that video
smithie6
23/5/2021
10:48
The chairman is the deal maker, that is why he stands to get very well rewarded if the share returns to previous high levels or had an instrumental hand in striking a deal that is beneficial to some, and the likes of you and me S, that already are just in the blue but I agree with your morals and reasoning about what might be regarded as ill gotten gains though the adjustment of awards. However, I would rather they be rewarded than fail to even recover some old investors money, even if is only a part of it, it is better than them loosing the lot. It seems that very few people have a conscience or sense of moral duty and integrity when it come to money these days. No longer is ones word ones bond and that goes all the way back, even to the Monarchy when they gave their word for peaceful talks, then arrested them, only to have them hung drawn and quartered. Nothing much changes, the place is still run by a mafia one way or another. The market handles money made from illegal drugs one or or another, which is legal in some countries, and yet the country jails people for cannabis but not for money laundering because it has been earned in a country where recreational drug use is legal. Or one could suggest that it is drugs that the police want or are informed to crackdown on as they are a threat to others that run the mafias. Still PTD is a clean business and at least every bit of leather is biodegradable, and SL are also concerned about animal welfare and base their business on good practice. Going back to what you were talking about China - their is a You Tube video of Pittards from a couple of years ago, at the HK show talking about the importance of the market in the Far East. I will look for it tomorrow.
clocktower
23/5/2021
10:10
who are the big tanneries in England ? there must be some if Scottish leather sells £100-130 million/year in hides (all Scottish skins) with ~500 workers then England must produce £500-1000 million/year ! (or many raw skins are just binned & not processed)
smithie6
23/5/2021
10:01
10% 10% of all of Pittards UK & 10% of Pittards Ethiopia !! well, fingers crossed that trading is good & that we see the share price rise, it has to get to 70p to make about 1/2 of the options exercisable. & sliding scale to 100p to exercise the other 1/2. (but why they should get 5% of Pittards for the share price returning to where it already was, without any increase, beats me. And 0 for managers & workers !). ---- the chairman gets 30% of the options & he is only part time !! & he sits on the committee of 3 that awarded the options scheme. :-( so, he awarded the options to himself !
smithie6
23/5/2021
08:29
10% is a great incentive to accept a decent offer when your in your mid 60’s and you have been with the company for a fair while and can see a way of getting a very decent pension pot, at a time when the very large stakeholders might be looking for a way to make good their long held investment. One really has to wonder why the major stakeholders would have allowed the award changes that you so rightly pointed out would reward the directors so well compared to other members of staff if the share price reached a certain level or of course if an unexpected offer was received for the company, that would be hailed as a outstanding success, as it would secure jobs and help the company achieve its environmental targets due to SL having the most advanced solutions to achieve the objectives that PTD had set. Also note, it is not that long ago that new blood has headed up SL. Only a guess but a nice fit and as you also pointed out they are very good at stock turn,which would really breathe life into PTD if the stock turn was x 7. Even if a bid does not come along you can see the potential from looking at SL accounts and now everything is opening and PTD have two sectors that SL do not seem to cover well - gloves and shoes - the time is right to see the rewards that mirror those of SL particularly with all the companies sports related technologies that they now seemed to be focused on.
clocktower
22/5/2021
17:40
their annual turnover of ~100 million is ~ 7 x the value of stock ! while at Pittards the last annual turnover was equal to the value of stock !! :-( ----- they have 215k options & 10.3 million shares 2.1% of the co. (& it phps includes employees) versus 10% of the co. at Pittards 5 times higher. yet Scottish Leather is a much bigger company than Pittards with much higher turnover & much higher number of UK staff, 4-5 times as many (imo 10% of Pittards as an incentive is too high imo) ----- Scottish Leather have a leather trading office in Shanhai perhaps they make their money selling their hides in China (where many famous brands have factories these days ) (BMW, Tesla do & I assume many more; & China probably has more millionaires than any other country, & many/all wanting leather in their luxury cars & their sofas)
smithie6
22/5/2021
17:28
they have 3 subsidiaies & 2 or 3 locations (1 in the middle of Glasgow & one nearby in Paisley) "Bridge of Weir Leather Company is the UK’s only leather manufacturer for the automotive industry, and as part of the Scottish Leather Group operates one of the largest tanneries in Europe exporting to over 60 countries around the world" so, they are notably bigger than Pittards I thought Pittards also supplied the automotive sector ?? (I wonder if they were the co. that tried to buy Pittards in the past; if a takeover offer was received now then the dirs get 10% of the co. if the offer was at >=100p ! I wonder if that would make them more receptive now of any offer ! je je
smithie6
22/5/2021
14:04
'Scottish leather group' interesting turnover of >£100 million !! looks like they phps have their own tannery (yes ?) so I guess they wouldn't want another one ----- have you looked at how their turnover coped with the Covid year 2020, compared with Pittards ? ---- btw Lewis leathers. uk tall m.bike boots. £450 ! second hand, on ebay £150-200 !!
smithie6
21/5/2021
18:25
Do you think there is a chance that The Scottish Leather Group might be interested in taking over Pittards Smithie6? The group has a turnover of over £100 million so it would make a nice fit imo. Mulberry use Muirhead. Http://www.scottishleathergroup.com/About-SLG/Governance.aspx They are a private company that might want to go public through a RTO possibly or a straight buy. Plenty of assets and the cash just to buy them out at £1 plus even judging by theirMarch 2020 accounts. Https://suite.endole.co.uk/insight/company/SC042020-scottish-leather-group-limited Full copy of accounts on the Companies House website. Https://find-and-update.company-information.service.gov.uk/company/SC042020/filing-history
clocktower
21/5/2021
14:54
I agree that luxury should have a good year
smithie6
21/5/2021
14:31
I am surprised the bid has not dropped in view of the sells today, is there a buyer in the background like JR picking up loose stock? I was waiting to pick up just a couple of thousand more on a drop but I think I will put the funds elsewhere now and just sit tight on my current holding of PTD. Making brands for others can at least help to keep a well trained skilled workforce until you have rebuilt your own brands and found the niche where they sit plus you need the good designers and right people to market your designs - I am not sure they are down in Yeovil though. Still I have put more funds into MUL as I think they are headed back in the right direction as well. Luxury is back big time imo.
clocktower
21/5/2021
14:01
making stuff in the UK for other brands personally I think the only way to make money, & have some defence of turnover & margins, is to be making your own designs (& we think that the number of staff involved in that has increased a lot, so, fingers crossed that they can design some products that then sell in solid volumes) making products for other brands has numerous obvious negatives
smithie6
21/5/2021
13:58
'they' need to get the underlying turnover to be higher, in a repeating way the MD has imo shown since 2006 that he is not capable of doing it hopefully the chairman who joined in ~2016 is capable of doing it if the shoe venture in Ethiopia has taken off as we hope then we might see that the cashflow has markedly improved, due to using high existing stocks (at 0€) to produce finished shoe products & hence get cash for the free stock that has been used & cash for the work done & a % profit. in July we should see a trading report
smithie6
Chat Pages: 42  41  40  39  38  37  36  35  34  33  32  31  Older
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