Pittards Share Discussion Threads

[clocktower] 10/2/2022 08:15

It seems it will take a few days before the achievement is recognised, and the prospects for the next 12 months are reflected in a much higher share price.

Though the MM marked it well up to start it seems as though a a few small trades have impacted the share price

The increase in investment and stock on the sea has taken the shine off the numbers but once the supply chain becomes more stable, I guess that will reverse once again, which will add a huge amount to the bottom line.

[clocktower] 10/2/2022 07:13

Great turnaround from loss to profit and a big uplift in sales with another 25% increase in the size of the order book compared to last year.

[clocktower] 09/2/2022 11:31

Podcast from Dec 20 2021 featuring Pittards Ethiopia MD. Confirmed no impact in Ethiopia from troubles at the time.



"As we approach the end of the year, ILM invited three industry leaders to discuss the hottest topics of 2021 in the last episode of View from the Top. Deputy Editor Tom Hogarth is joined by PrimeAsia CEO Jon Clark, Pittards Ethiopia Managing Director Tsedenia Mekbib and ILM columnist and Leather Naturally spokesperson Dr Mike Redwood."

[clocktower] 21/1/2022 14:15

Last year they gave a trading update on 10 Feb - so maybe the rising share price is in anticipation of another good set of results and a further reduction in stock and debt.

I just tried buying 1000 shares online and I could not even get 500 at 69p.

Maybe if they increase the bid some more stock will become available, as I expect this could go well over £1 when the accounts are published as the benefits must have increased from the low value of the Ethiopian currency that now stands around 67 to £1.

Along with further stock reductions this is looking good imo.

DYOR.

[clocktower] 21/1/2022 12:17

A Brand using Pttards leather that I had not noticed before - Barton Watch Bands



It seems they make these bags as well:

[clocktower] 21/1/2022 11:08

Just a story from December 2021

[clocktower] 20/1/2022 17:24

No, fair comment Smithie6 but if the major shareholder thought he had no option but agree to ensure he was able to return the business to its former success, then I guess it was better that the skilled and knowledgeable BOD got well rewarded rather than see them leave..

It looks like it is on the way up on little volume, which I guess is ahead of year end figures that are still months away mind you but because of the situation in Ethiopia the risks have reduced I guess.

I also expect Vivobarefoot have been able to source more from them, as there were closures in other countries - and I think they increased their stock levels due to shipping issues around the world.

Vivo profits were well up in 2021 accounts. so I guess it will have continued to grow,plus there are other companies like Dr Martins that I think use Pittards leathers.

[smithie6] 11/1/2022 20:39

10% of the company in return for getting the share price down from 200p to 70p.

You couldn't make it up.

Disgraceful.

Blatant theft in return for reducing the share price ??

Except on UK stock mkts
....a home for corruption (Cupid, Globo, theft from the public, financial scams, false accounts (Tesco, Speedy, Globo, Invu, & many many more) & directors taking the shareholders' assets.

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Sorry to be banging out the same old message.
But imo it is wrong for dirs to award themselves wealth/assets in return for reducing the share price & losing money for shareholders !. At PTD or any company.
Company Act 2006 needs changing imo to make it illegal.

& let us recall the scandal of dirs bonuses at Persimmon. UK mkts are often like the wild west or an unruly casino.

[callumross] 07/1/2022 19:37

The Scheme continues to vest in March 2022; however, the scheme has been modified. The exercise period has been extended to April 2023,
formerly August 2022, taking into the impact of COVID-19.
The base price has been set at 51p, with two new conditions. Firstly, that no award will be made unless the share price reaches or exceeds 70p, and finally that the aggregate award to management will not exceed 10% of the issued share capital, being 1,388,860 shares (the company already
holds 934,210 in treasury). Previously the scheme was uncapped

[smithie6] 07/1/2022 19:05

...shares options...

I can't recall the exact details but was it 10% of the co. if the sh. price stayed above 70p for X days ??

(the sh. price has fallen from ~200p to 60p since 200-205p
that the dirs. have decided to award themselves 10% of the co. for 'achieving' to reduce the share price from 200p to 60p
...imo...is disgraceful/shameful

but until the stock market imposes some rules for options for all listed cos. these type of things will happen.

Recall the scandal/shock at Persimmon with directors bonuses of massive % of the annual profit. Tens of millions of £ !. Not long afterwards they departed. So that option scheme didn't work very well ! Since there are no rules for options schemes (except the guideline of <10% in 10years; widely ignored) such scandals will happen.

AIM, but like the wild west at times.

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PTD
each person to their own views

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best wishes for the workers & situation in Ethiopia. Hopefully the weapons will be put away in the rebel areas.

[clocktower] 07/1/2022 18:38

Agreed callumross and if your the buyer, I think you have made a wise purchase at this time.

In post 403, I said I considered them a safe bet again but I was not yet ready to invest in PTD but would have if the share price would have stayed under 60p

While I think it still has legs, there is little prospect of buying in any volume, without pushing the share price way up, and remember there are a lot of shares that certain people receive once it goes over 70p if my memory serves me correctly.

It was smithie6 that made a point of the dilution and the fact that the workers never shared in the benefits bestowed upon the directors.

Though I do believe they are doing a good job in turning this around but factors like the production in Ethiopia were out of their hands, if things had gone differently.

Some time ago, I said I would switch from sell to buy and I did but I was not the buyer, as I see little scope if one wants any volume over say 20k + of shares. without paying a very much higher price, as can be seen by todays movement.

I think when the results are out, the share price may hit well over 70p.

If smithie6 is still around maybe he can remind us about that share issue which was set at 70p I think - please correct me if I am wrong.

DYOR

[callumross] 07/1/2022 18:01

This has always been a tightly held stock Clocktower. Just a rally on relief that the potential Ethiopian disruption has not materialised, I guess.

[clocktower] 07/1/2022 14:30

You have to laugh - just over 25k shares and the companies values increased by over 7%.

[clocktower] 07/1/2022 13:42

A little life today at long last.

[clocktower] 06/1/2022 13:37

It is notable that the company stopped buying shares to be held in treasury when the war really kicked off in Ethiopia. Acting with caution wisely imo.

[clocktower] 30/12/2021 15:41

Well S6 it seems that there is no longer any fear that AA will fall and the government has won the day now that they have recaptured large parts of the country.

PTD are once again a safe bet but I see no hurry to buy at present, as although ETB is very weak, the shipping rates are sky high now, and as you pointed out many times, there maybe a shortage of goats but as I have said many times, PTD have very large stocks of skins, so I cannot see that being a problem. When the results come in March, it will be interesting to see how much they have managed to reduce the stockpile.

[smithie6] 20/12/2021 16:42

'talk talk'

I doubt that will work

The rebels will want control of 'their' region, imo
(after all they were willing to fight , & die, to control it themselves)
& I can't see the state Govt. agreeing since it would divide the Ethiopia up to become 2 countries, imo

[clocktower] 20/12/2021 14:14

S6 I guess it was also about showing the world that things are not as bad as the world press says it is, and to provide a show of confidence. I really think the PM and people of AA are on top of the issue now.

So a big relief for PTD but I will wait until the new year before considering any investment in PTD again.


Better news coming out of Ethiopia today with the Government Forces taking back more ground, and it seems there are preparations being made to talk talk rather than kill kill.

[smithie6] 17/12/2021 13:39

surprising choice of country for an event for various countries

surely a country without a civil war would have been a more logical choice for the venue ?

(I for one would not have gone to it !)

[clocktower] 16/12/2021 16:23

They still ran a show in Ethiopia in December.

[clocktower] 13/12/2021 11:26

S6 it will only increase the value of all the stock PTD hold and maybe give them the opportunity to reduce the stockholding.

However not such good news from there today. So Pittards woes are not over yet it seems.



I was close to buying again but this news does not look good, so I am pleased I did not jump in.

[smithie6] 10/12/2021 13:39

"Northern Ethiopia is facing mass starvation amid an ongoing civil war between Tigrayan and government forces"

I wouldn't want to be a goat in the starvation areas !!

since surely they will get cooked & eaten !
(& PTD won't get the skin/hide, 'if' they normally get any from that area)

(nor anyone struggling to get food)

[clocktower] 09/12/2021 14:36

Seems to me that the TPLF are getting desperate as the government advances.

Very sad situation.

[clocktower] 08/12/2021 13:01

Better news for Ethiopia with the PM returning from the front line.



"The office of Ethiopia's Prime Minister Abiy Ahmed says he has returned to his usual work in the capital and has left the battle front.

"I am returning to the office as I have completed the first phase [of the conflict]," he was quoted as saying."

[clocktower] 06/12/2021 16:08

Lets hope then that the bookmaker can find enough quality goat skins:



Plus with China supporting the Government, it is looking good for PTD.



I think I will wait until the New Year before re-investing in PTD though, as the market is at best standing still.

Plus there has been a slow down in trade in Ethiopia.