Pittards Share Discussion Threads

[baner] 10/1/2023 15:31

0 is probably the answer....

[clocktower] 10/1/2023 15:30

Very strange RNS director buying, bearing in mind the treasury sales and odd for S.Yapp to have bought and sold 15k yesterday but purchased 34188 at a higher price.

[clocktower] 10/1/2023 12:33

If you took away the huge stock value from the total net asset value - what do you think you are left with per share?

[clocktower] 10/1/2023 12:28

Does not look good at all, if they had been able to sell off all of the treasury shares at 58p to an institution it would have been a different matter but as you say, a trifling £58k.

The huge stock is a serious problem, I agree and last time it even increased. Millions of pounds worth of stock that clearly they cannot sell and only retain most of it on their books so to make them look half decent, I presume.

Does ageing leather degrade, and how is it stored, plus the cost of storage must also be huge.

The major private shareholder must be concerned, as he would have paid on average a lot more than the current share price I suspect.

[baner] 10/1/2023 10:05

Very bad sign indeed……….i guess the lenders have instructed them to start selling these treasury shares. Enormous stock of ageing leather - obvious risk of massive write offs. Could well end up in Admin during 2023.

[callumross] 10/1/2023 09:36

Bit of desperation that they need to sell treasury shares to raise a trifling £58k?

[clocktower] 09/1/2023 07:28

The volume increase last week was noticeably, will this week continue the trend, and will the share price slide again?

This is now worth watching as it maybe something or somebody that has knowledge that has suddenly decided to trade and it could be two way as Fridays trades suggest imo.

DYOR

[clocktower] 01/12/2022 08:30

Yesterdays news from Mulberry about dropping UK sales must impact the likes Pittard as bag makers must be reducing the purchases of leather.

The company has huge stocks already, are they building further because of slowing sales in the UK?

Is energy costs having any impact?

[z1co] 20/11/2022 21:37

clock you awful smelling troll is another of your punts?

Pump and dump specialist.

[clocktower] 20/11/2022 14:55

It goes ex-div on 15 December but it cannot be the prospect of a poor dividend that is supporting the current price. However, trading has almost disappeared once again and is it that there are so few shares floating in private hands that have not been placed away in hope out better times.

If the price goes above 70p the directors get to benefit handsomely, how long it has to stay there I cannot recall.

[clocktower] 08/11/2022 14:55

That is the first time for a very long time that I have seen PTD on the top list of rises, as it is in at number 10 at present I see.

What's driving this, volume is small?

[clocktower] 17/10/2022 12:37

Steady buying at 56p I note.

[clocktower] 11/10/2022 09:13

With these RNS, I think we could see PTD coming into play and a buyer in the wings, as there are so few shares available without moving the share price rapidly upwards.

The asset value far exceeds the current share price and as the Chinese have big interests in Ethiopia it could be something they want to get their hands on imo.

Watch this space.

[clocktower] 10/10/2022 10:04

Interesting that all the sells are being soaked up at the 56p range. Maybe our major holder is still adding but what concerns me a bit is the level of stock that Pittards hold, although they say this is in part due to other factors in part. Still, it's been over £10 million for a very long time.

[clocktower] 26/9/2022 14:21

Just one decent buy today, so I guess it’s going to to take a while to get moving unless we see a bid for the company.

[smithie6] 26/9/2022 14:04

Results

Biah blah & blah

Bank debt is up.

[clocktower] 26/9/2022 06:32

A good solid set of results with a decent forward looking outlook, as the weakness of the GBP will start to benefit the company in the future once the hedging contracts work there way through the system.

Divided maintained and the benefits from cheaper energy in Ethiopia will benefit the business along with what I expect with be a reduction in transportation costs as the recession effects Europe, as much of the business is done in the US, which at this time is likely to increase I expect.

The acquisition of Hill and friends in the last half should show dividends this half.

[clocktower] 26/8/2022 08:03

I posted this on the other thread on August 2 2022 but I then thought it was more appropriate to be posted on this thread, as it is a step into more online business for Pittards.

We do need to support industry in Africa and not leave Russia and China have so much influence that they receive even more support from this continent.

------------------------------------------------------------------------------

"I have been doing a bit of research on Emma Hill CBE and I came across this story in the Guardian. Her arrival at Pittards as a consultant could have the same sort of impact that she clearly had at Mulberry from 2008 to 2013.

Her appointment could transform Pittards wholesale and retail business which has always been rather mundane at best. The other brand Pittards own is Daines and Hathway, which is rather male orientated but is certainly in the luxury end of the market.

Now they own a ladies luxury fashion brand, which to be fair to Emma now stands a really good chance of expanding rapidly, having the weight of Pittards behind it.

If Emma does for Pittards what she did for Mulberry then it will be a very bright future.




"The woman widely credited with transforming Mulberry from a quiet British fashion house into a must-have global brand has shocked the luxury goods world, and the City, by announcing her intention to quit, in a move that wiped nearly £40m off the company's value.

Emma Hill joined Mulberry as creative director at the depth of the recession in 2008 and, hitching the firm's conservative reputation to hipster royalty such as Alexa Chung and Lana Del Rey, helped spur a fivefold increase in its share price.

Mulberry issued a terse confirmation that one of the industry's most successful partnerships is coming to an end, amid rumours of a falling out between Hill and the chief executive, Bruno Guillon, over the company's direction.

"Mulberry confirms that Emma has informed the company that she wishes to leave after a very successful period at Mulberry during which she has built a strong and talented creative team working for her," it said.

Shareholders marked their concerns about her imminent departure by sending the company's shares down 8% to 980p.

Worth more than £1.4bn a year ago, Mulberry has seen its value halve over the past 12 months due to a series of profit warnings, but analysts warned that the business could suffer further without Hill."

[clocktower] 12/8/2022 11:17

I have been doing a bit of research on Emma Hill CBE and I came across this story in the Guardian. Her arrival at Pittards as a consultant could have the same sort of impact that she clearly had at Mulberry from 2008 to 2013.

Her appointment could transform Pittards wholesale and retail business which has always been rather mundane at best. The other brand Pittards own is Daines and Hathway, which is rather male orientated but is certainly in the luxury end of the market.

Now they own a ladies luxury fashion brand, which to be fair to Emma now stands a really good chance of expanding rapidly, having the weight of Pittards behind it.

If Emma does for Pittards what she did for Mulberry then it will be a very bright future.




"The woman widely credited with transforming Mulberry from a quiet British fashion house into a must-have global brand has shocked the luxury goods world, and the City, by announcing her intention to quit, in a move that wiped nearly £40m off the company's value.

Emma Hill joined Mulberry as creative director at the depth of the recession in 2008 and, hitching the firm's conservative reputation to hipster royalty such as Alexa Chung and Lana Del Rey, helped spur a fivefold increase in its share price.

Mulberry issued a terse confirmation that one of the industry's most successful partnerships is coming to an end, amid rumours of a falling out between Hill and the chief executive, Bruno Guillon, over the company's direction.

"Mulberry confirms that Emma has informed the company that she wishes to leave after a very successful period at Mulberry during which she has built a strong and talented creative team working for her," it said.

Shareholders marked their concerns about her imminent departure by sending the company's shares down 8% to 980p.

Worth more than £1.4bn a year ago, Mulberry has seen its value halve over the past 12 months due to a series of profit warnings, but analysts warned that the business could suffer further without Hill."

[clocktower] 02/8/2022 06:26

A very positive statement and being able to achieve this from its own resources shows how strongly the company is starting to perform.

The share price could easily double from here and head towards former highs as it has been grossly undervalued for a long time. The major shareholder added again this year, as did the ceo.

I am looking forward to see H1 figures in September.

[clocktower] 29/7/2022 10:11

I was refreshing my mind with the accounts today, as I wanted to check on a few things, one being they had hedged the US$ at around 1.35 and second was the deal with Vivobarefoot - as they are expanding and doing so well.

Also CPB vs ETB is very much in PTD's favour.

So I think the H1 results in September will be very good, and no wonder there was director buying back in May at 54.75p - Following other buys earlier by the main stockholder that has around 24% of the shares. So they are in short supply and could take off imo.

They also supply leather for Dr Martins shoes and all these companies have been busy.

From the 2021 Interims :

"Footwear leather for Dr Martens iconic styles, from final inspection to adding the sole unit - a demonstration of joined - up UK manufacturing."




"Pittards is the exclusive manufacturer of Vivobarefoot
shoes in Ethiopia with a vertically integrated service
that makes both leather and footwear. Above, (left)
Galahad Clark, CEO & founder, Vivobarefoot and Reg
Hankey (right) CEO, Pittards sign an understanding
that underlines the partnership and looks to increasing
production in the country"

[clocktower] 14/7/2022 12:45

I was looking at Vivobarefoot last report and I noticed there sales are on the up and they have set a target of £100 million - no date given to reach that but they are growning it would seem, and they use Pittards for most leather as per link below.



"WHERE DOES YOUR LEATHER COME FROM, AND IS IT ETHICALLY SOURCED?
4 months ago
Most of our leather comes from ‘wild hide’, free roaming cattle reared by families and communities in and around Ethiopia. We’re always on the lookout for more durable and sustainable alternatives. We’re working towards a circular economy, where new stuff is made from existing stuff, and minimal virgin resources are tapped. We’re proud to work with Pittards, PLC, who have a 200-year history of expertise and innovation."

[clocktower] 14/7/2022 12:13

"Yeovil Town Football club has announced that it is delighted to welcome Pittards – ‘the original Glovers’, as its back of back of shirt & sleeve sponsor."






They also were showing at Glee in June.

[clocktower] 22/6/2022 12:14

Doing a few shows again I notice:



An article from 2018 but of interest to anyone that wants more of an incite to the factory in Ethiopia, well worth a read still,

[clocktower] 15/6/2022 11:08

It seems there is now no chance of this hitting 70p as the market looks at the reality of the huge energy and transport costs are having on most businesses, let alone the reduction in personal spending due to inflation and the need to hold onto cash in worrying times.

The war in Ethiopia seems to not be the issue now, its food shortages in Africa and high energy prices elsewhere in the world plus the fear of the war spreading further afield in Europe and further maybe.