Pittards Share Discussion Threads

[smithie6] 16/11/2021 19:13

yep, I saw that.

although I think the rebels are some way away from the capital, is it 300km; & away from their natural region.
BBC article mentions that the Govt has some troops in neighbouring countries & that these might be called back to sway the fight in the favour of the Govt.

(& Ethiopia is apparently a (rare) friend of the 'west' in that area, so the 'west' might help them out with modern military kit)

[clocktower] 15/11/2021 09:13

Not the best of news coming out of Ethiopia, with the recommendation that US and UK citizens remove themselves from the country, while commercial flights are still available.

[clocktower] 12/11/2021 13:19

My view is that Egypt and Sudan stir the trouble up in Ethiopia and the dam has made the situation worse, as Egypt do not like them controlling the water.

Who provides the Tigrayan forces with weapons?

[clocktower] 12/11/2021 13:15

Does not sound good at all with this news coming out today as well.


"The United States' top-ranking military official in Africa has said that events in Ethiopia could affect the security and safety of the rest of the region.

In an interview with the BBC, General William Zana highlighted the fact that Ethiopia has troops in neighbouring Somalia supporting the government there.

"When Ethiopia has an internal conflict that may make it decide to withdraw forces from Somalia, now you have five African Union countries that are also affected and in Somalia you have the potential for violent extremist organisations to have greater activity there," he said.

Speaking about the possibility that the Ethiopian capital, Addis Ababa, could be targeted by Tigrayan rebels, Gen Zana said that the US force that is based in Djibouti is ready to evacuate US citizens.

He also voiced concerns about possible military action by Egypt against the Grand Ethiopian Renaissance Dam, as the Ethiopia's instability deepens."

[smithie6] 12/11/2021 11:52

indeed, that they have produced the RNS after reading this msg board.

-----

terrible quality RNS
pathetic

BOD are low quality imo

they mention a "situation" in Ethiopia.

a shortage of petrol perhaps ?
a shortage of some chemical needed in the tanning process ?


no, it is a civil war, with bullets !

they call it a "situation"
je je.

muppets.

[clocktower] 12/11/2021 07:16

I think the BOD must have been following your post S.

Good statement from the company this morning, that will I fear only cause more concern, as it may bring to the attention of the whole market the risks now facing the company.

As I have said before, I Hope for the best but fear the worst, that’s why I would not care to be still holding this stock but will rush back to buy in, if peace returns.

[smithie6] 10/11/2021 21:01

49 Eth Birrs =£1 1 year ago

63 Eth Birrs =£1 now

the Eth Birr is 29% weaker now, wrt the £, versus the situation 1 year

steady trend line, weakening

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so, the assets in Ethiopia, are I assume now worth less in £

one assumes that the m2 of land, buildings in Ethiopia are now worth noticeably less in £ due to the currency changes but also since the local land & property prices there have surely fallen (who wants to spend cash you have or take on a 20 year mortgage during a civil war !)

======

hopefully the civil war will end soon (but phps doubtful since there seem to be big fundamental disagreements/differences (ethnicity, languages ?, etc) between regions

but 'if' things get worse & rebel troops got as far as the location of the 2 PTD production sites in Ethiopia (they are not that far away I believe :-( )
one assumes that some workers just won't turn up for work (if the managers or key workers didnt turn up it would cause problems) . some/many citizens will surely flee & only go back when it is safe.

[clocktower] 09/11/2021 08:57

It's not only the soldiers that are brave, I see there is a buyer purchasing decent blocks this morning.

While I think the full year figures will be good if there is no serious impact until the end of this year, the risk remains high imo.

I hope the buyer is right and I am wrong, and good luck to them.

[smithie6] 09/11/2021 08:10

wharghhh !!

well done !

[clocktower] 09/11/2021 06:57

LOL S - Give me sunshine give me joy and just stop the war, then we won’t have to go AWOL or have to eat goat anymore.

[smithie6] 08/11/2021 21:23

rebel soldier 1 to rebel soldier 2

"if dinner tonight is goat again I think I'm going AWOL"

"I hear you. every day its goat, goat with rice, goat with potatoes...."

[smithie6] 08/11/2021 21:20

you are all sunshine !!

je je.

[clocktower] 08/11/2021 14:38

Watching the share price is a bit like watching the start of a tsunamis heading for land at the moment.

When the waves hit the beach, I wonder how much will be washed away?

30% -40% is my guess.
DYOR

[clocktower] 08/11/2021 13:16

However, I suspect they can use sheepskin for making gloves but hopefully things will be resolved before to long but I would not take the risk of holding on this stock in the present climate in Ethiopia - while I am sure the UK tannery is running successfully, the majority of production staff are in Ethiopia as I understand it, making gloves and shoes and leather clothes.

But the only upside is the exchange rate, as it is somewhere around 63/64 EBT to 1GBP if they can get goods out and the staff still turn up rather fight.

I guess the company will not be putting in any more cash to buy shares now, as they must be trying to take steps to preserve cash, in light of events.

I am just pleased to be out of this now but if peace returns, I will jump back in but it will have to be with the knowledge that there has been no impact on the business.

[smithie6] 08/11/2021 08:35

milk a goat every day

or kill it & eat it once but then get no more milk

tricky dilema for a soldier !!

[clocktower] 07/11/2021 17:01

LOL - S - Just Milk the goats but here is a bit of better news from Ethiopia.

[smithie6] 06/11/2021 20:14

who knows, if all the soldiers of both sides shoot & eat the goats !!

the availability of new goat skins will fall hard

& if so, maybe the large stocks held by PTD will go up invalue !!

je je

[smithie6] 06/11/2021 20:10

you are a real ray of sunshine !

je je

----

(I agree with you that the Govt. there seems to be struggling for support etc

even with the use of Govt. funds (& ability to buy high power military kit, which I assume is not true for the rebels) they have been losing ground)

[clocktower] 05/11/2021 14:28

double post error

[smithie6] 05/11/2021 13:59

any risk that the soldiers of both sides will be badly supplied with food

& will kill & eat the goats etc used to provide skins for gloves ??

I have no idea, perhaps a wild idea but who knows.

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official state military forces, backed up by the money (& aircraft & helicopters & equipment & telecomms &....) of the state
seem to be doing very badly in the armed struggle & endlessly losing km2

....why ?

surely with armed helicopters & planes they can destroy any military vehicles of the enemy etc etc & mount sudden attacks etc

[clocktower] 04/11/2021 15:10

Regrettably, callumross I based my recent turnaround all on the events in Addis Ababa, and in the knowledge that all the shoes manufacturing and most of the glove manufacturing is done in the company factories there. The facts have changed with the rapidly changing conflict. Previously it had no effect on the business in Addis Ababa imo but now the whole business there could be in jeopardy imo. That includes the tannery, and all the stock the company must be holding over there, as my guess is they will have at least half of that £14/15 millions worth of stock over there.

Can they even now ship stock?

How much longer can the factory keep up production, if the city is surrounded?

In my mind this would have easily run up to £1+ by early 2022 but if the business in Ethiopia collapses. I fear it could bring the company down, hence my change of direction.

If Ethiopia can sort out their problems and peace returns quickly, I will switch once again.

[callumross] 04/11/2021 12:57

You have moved so rapidly from being a cheerleader for the company to now being all doom and gloom clocktower. Apart from Ethiopia being an unstable country (nothing new there) is there any other reason?