Pittards Share Discussion Threads

[clocktower] 26/5/2022 09:08

Seems to me that they are now keen to ensure the share price goes over well over 70p which is the area they get all those options and enrich themselves but not the hard working employees.

So, this still has mileage imo.

[clocktower] 24/5/2022 14:13

So little volume can now push this sky high. It is a pity the company has not been holding webcast meetings and answering questions about the level of stock being held.

Also the effects of energy increases etc etc.

Director buying to push their holding above 3% is interesting.

Lets hope we get some feedback on the thread from mello2022

[clocktower] 20/5/2022 14:53

So Mr Rendell is up to 26%, a few more percent and could we see an offer coming?

[clocktower] 18/5/2022 09:21

With recession around the corner and energy costs rising, I cannot see Pittards being a good place in 2023 regrettably. While the order book was well up,it may not reflect that the profit will also rise.

What can any investors event do for PTD?

[melloteam] 15/5/2022 22:05

Mello2022, the popular three-day Investor event takes place on 24TH-26TH MAY at the Clayton Hotel & Conference Centre, Chiswick, W4. The breakdown of the three days is as follows:

Tuesday 24th May, 9am - 6pm - Mello Investment Trusts and Funds (WE ARE GIVING AWAY 20 FREE TICKETS TO THE TRUST AND FUNDS EVENT - THE FREE CODE IS FIRST20TF)

Wednesday 25th & Thursday 26th May, 9am - 6pm - Smaller Growth and Mid-Cap Companies

Just to let shareholders and prospective investors know that PITTARDS will be among the 60+ LSE Small Cap and AIM listed companies attending. There will also be keynote speakers such as Lord John Lee, Andy Brough, Rosemary Banyard, Clarke Carlisle and Gervais Williams.

Tickets for 1 day are £115 and tickets for 2 days are £189. To get 50% off, use code MMTADVFN50.

For more information, please visit the event webpage:

[my retirement fund] 20/4/2022 16:01

Germans ought to be ashamed of themselves, but I wonder how we would be playing it if we were 80% dependent on Russian energy ?

[clocktower] 20/4/2022 14:29

Agreed m r f - We all need to start by buying less from China and any country that supports the war, as well as stopping from using Russian Fuels.

Germany and France have a lot to answer for continuing not to give Ukraine all the weapons they need, let alone what the German Government has done by way of supporting Russian aggression and being so dependant on Russia.

Move the industry back to the West.

[my retirement fund] 20/4/2022 12:26

I sold out on poor post results, couldn't agree more with your warning, countries that are complicate with Russia need to be treated with caution and should be tarred with the same brush!

[clocktower] 20/4/2022 11:00

Pittards will have to be careful that Ethiopia is not put on a sanction list if they show further support for Russia.

"Russian embassy denies recruiting Ethiopians despite queues
Crowds of people have been seen lining up outside the Russian embassy in the Ethiopian capital of Addis Ababa in a bid to show their "solidarity" with Russia.

The photos shared on social media, which appeared to show people stood outside the embassy building earlier this week, came amid reports people were being recruited to join the Russian forces.

However, the embassy has denied the allegation that Ethiopians are being recruited and said the long queue of people were expressing their "solidarity" with Russia."

[clocktower] 28/3/2022 13:38

Not the most exciting of appointments.

I will be interesting to see if the new CFO buys any stock in the market.

[my retirement fund] 23/3/2022 11:13

surprised there are only two small buy trades printed

[clocktower] 23/3/2022 10:27

Well far better than a year ago and the outlook is good as well. With things being more settled in Ethiopia now you might see more shoe production shifting away from China, as they mention this as a growing sector for PTD.

They also mention the military, so again this could boost the sales in the current climate, which I would rather not be a profitable sector at this tine with the troubles going on in Ukraine. Still if they were able to reduce the stocks by selling more gloves to the military, even without profit, it would help bring the huge stock holding down a bit.

The current year should see the big improvement, so when markets settle I would put a target price of 80p on the stock.

[my retirement fund] 21/3/2022 11:41

They have been a big supplier to the US Army in past years and has been big business for them, it would be interesting to know if they still have an edge on military gloves at all! With the expansion of NATO thanks to the murdering nut cases in Russia, military kit is going to be in high demand, are Pittards still in this sector in any meaningful way I wonder

[clocktower] 21/3/2022 11:30

I noticed a lot of leather mix - gloves are being sent for the soldiers in Ukraine - I was wondering if Pittards is supplying any of these.

[clocktower] 09/3/2022 15:54

Will Mr Rendell increase his holdings up to 29% but today it seems that he has stopped buying or is he about to make a full offer?

[clocktower] 17/2/2022 10:51

10k buyer now paying 68p seems like they want to keep adding and soaking up the sells, as it heads for final results, I guess we will see it pass 70p again and maybe hot the £1 mark even.

Could our very large stakeholder be going to make an offer?

[clocktower] 15/2/2022 10:48

I was checking the trades over since the last RNS and noticed there were more definite buys than sells with a couple of 10k purchases at 67p yet the bid offer is still lower than it was the day of the RNS when it was 65/69p.

Very odd.

[clocktower] 14/2/2022 17:57

Thanks km18 , it was a bit lonesome on this thread.

[km18] 14/2/2022 11:37

Pittards PLC comprises departments engaged in design, production and procurement of leather for sale to manufacturers and distributors of shoes, gloves, leather goods and sports equipment and the retail of leather goods and garments. Given the growing demand for luxury goods, revenue leapt to £19.8m from £15.2m in 2020, leading to a revenue hike of 30%, thus resulting in a return to profitability of £0.5m as opposed to the (£2.3m ) loss incurred in 2020. As a result, the firm is trading at an EV/EBITDA of 24.44. Despite the profit rally, the firm is still trading at a discount with a P/E ratio of 18.2, lower than the consumer discretionary sector P/E ratio of 32.1, hence the security is undervalued and expected to surge in value. Currently, Pittards is trading on a P/FCF ratio of 12, signifying that the group is able to monitor its operating, investing and financing activities efficiently.




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[clocktower] 11/2/2022 07:57

Your most probably right MRT but now that it’s profitable again it a good way to manage a business to cover for a rainy day.

S time softly softly back to bed.

[my retirement fund] 10/2/2022 12:59

The carrying stock you talk about will most probably be written down, they have a history of doing that to, just flick through the last 5 years of accounts and see for yourself.

[clocktower] 10/2/2022 11:58

By the way MRF - I acknowledge they made less profit in H2 than H1 but they have had to deal with the war situation in Ethiopia - the second round of Covid and huge increases in freight charges, which will start to abate this year. The only place that costs might increase are energy costs and as much of the work with leather and making goods is the labour content. Plus bear in mind most labour is in Ethiopia and on the currency exchange is favourable.

So give them credit.

[clocktower] 10/2/2022 11:50

Add to the profits an extra £400k in stock due to the combination of events, plus the increase in capital spend of £800k, and even taking the increase in net debt up £300k this is a remarkable result from a loss of £2.3 Million to a profit of £500k.

Further more the order book is much stronger so they can look forward to larger profits this year.

The company is also ripe for a takeover imo as assets exceed debt by a considerable amount.

This should be up in the 80/90's at the very least by comparison with others.

DYOR

[my retirement fund] 10/2/2022 09:24

It's going to be on a high PE and high risk with a long track record of both poor management and high costs. Difficult to see a premium share price afforded here.