Pittards Share Discussion Threads

[azalea] 19/3/2005 15:15

ALS
Good point of caution.

[arthur_lame_stocks] 19/3/2005 11:05

They have a massive pension fund deficit which is swallowing most of their cash. If you take this into account net assets are about zero.

[azalea] 18/3/2005 17:19

jotohal

You, me and everyone else!

[jotoha1] 18/3/2005 17:17

Actually it might start to look interesting soon....new man at the helm and the changes they have completed...they seem to be very proud of their NAV...must feel the share price is not reflecting true value...it must be a take over target once the changes kick in.....will jump in if it gets to sub 18p

[clocktower] 18/3/2005 14:33

Gloom and Doom here...might take a long time to recover.

[opthalmist] 03/3/2005 20:54

niggle, see below:

RNS Number:2923J
Pittards PLC
03 March 2005


Pittards plc (the Company) was advised today, Thursday 3 March 2005 that Mr JWW
Pittard now holds 1,263,578 25 pence ordinary shares in the Company which
represents 5.72% of the issued ordinary share capital, and Mr JCD Pittard now
holds 2,056,931 shares representing 9.31% of the issued ordinary share capital.

[guru11] 03/3/2005 20:43

It has been said before -
goes up and down,
very unpredictable.
Been in this one myself once before.
The spread does it no favours though.

[opthalmist] 03/3/2005 17:18

Directors seem to think so too.

[empirestate] 03/3/2005 11:44

well worth a look at this level

[kar111] 14/2/2005 12:49

Pugugly, I understand there's an increasing market for Indian goat leather. Do you think Pittards customers are ready to make the switch?

[arthur_lame_stocks] 04/2/2005 10:41

you might get your 10p soon hybrasil if things keep on like this.

[arthur_lame_stocks] 07/1/2005 09:41

Property sale today. very poor price IMO. I thought they would do much better.



They might even go bust now.

[callumross] 14/12/2004 11:28

sorry to hear the news guys- we who live in scotland always knew the company was a busted flush - hopefully you will be able to recover some assets from the carnage

[hybrasil] 14/12/2004 10:33

yes with the pension deficit it seems like there is very little there. I'm watching now at 10p I would take a different view

[pugugly] 14/12/2004 08:51

"Net assets, as at 31 December 2003, were £22.6m; equivalent to 90p per ordinary share".
"Pension Scheme The final salary pension scheme was closed on 30 September, 2002. The triennial valuation of the Closed Scheme was carried out as at 6 April 2003. This revealed a deficit of £19.7m"

I calculate Net assets after deduction of pension scheme deficit approx £3 million.

If I am right still overvalued at the current price. Views?

[jotoha1] 13/12/2004 20:21

I gather there is major turmoil at the mill, no time to be getting in, this is looking like a basket case, all will be revealed soon!!!!!

[arthur_lame_stocks] 13/12/2004 12:32

Still falling, the market cap is just 4.5 now.

These might be an interesting recovery play if they get much cheaper.

But i'm not thinking of buying yet.

[hybrasil] 04/11/2004 20:16

Arthur I know you do a lot of of Homework on shares . i have the annual report somewhere here and I will have a look again. It has its interests but the pension liability is pretty serious. I did the figures some time ago and I didnt get excited enough to buy. I seek companies trading on a massive discount to NAV.

[pdyke14856] 04/11/2004 18:58

Not going to go bankrupt. As I said worked their recently, just seemed to be a very mature business which was not willing to cut back and outsource certains parts to Asia. Which IMO would be the way to go.

[arthur_lame_stocks] 03/11/2004 12:51

They really have got problems at PTD but I don't think it is going bust. I wonder what that 25 acres is worth with 10 acres zoned for housing. Is 5-10m the right sort of range or perhaps even a bit low?

This would at least hopefully pay off much of the bank debt.

Not sure i'd buy at the moment personally but worth watching.

[pdyke14856] 03/11/2004 11:14

I was under the impression that a lot of money was tied up in land/real estate.