Pittards Share Discussion Threads

[master rsi] 12/5/2011 13:52

Level 2 movement

Some buying since yesterday and at one time BHIS ( market maker ) went into the bid, and as soon as the only MM at offer 4p moved forward 4.25p, they went at offer 4p so out of the 3.80p bid aswell.

[markt] 09/4/2011 14:53

Pittards shareholders

....any of you at all annoyed/upset out that you were not allowed to take part in the massive issue of new shares 1.5p in Dec. 2009 while the biggest shareholder Peter Gyllenhammer was ?

(the new shares that P.G. bought in that issue made him an instant paper profit of 1/2M since the issue price at 1.5p was below the market price of 2.1-2.2p at the time)

(noting that Company Act calls for new shares to be issued pro rata to existing shareholders)

[markt] 08/4/2011 12:31

baner
Can you please explain why you think that the Pittards share issue which was not to existing shareholders and at a price that was below the market price was fair to existing shareholders of Pittards ?

(noting that the Company Act requires that share issues should be pro rata....and the share issue was not pro rata, existing shareholders were not invited, except Mr P.G. took part)

[sailing john] 17/3/2011 11:25

Managed to grab another 70k @3.25 just after the bell. Results much better than I expected even without the tax credit.
GL - SJ

[clocktower] 17/3/2011 09:40

Well done Pittards.

[envirovision] 17/3/2011 08:22

Great eps, due to tax credit (had not accounted for this), now need to control rising input costs.

[envirovision] 31/1/2011 14:56

Just added 50K

[envirovision] 24/1/2011 08:57

Some decent volume from Thursday to Friday, marked up today. Still seems to be plenty of stock available though.

[envirovision] 12/1/2011 11:44

Only 19% of the shares are out there, so a re-rating will all happen pretty quickly once a liquidity squeeze occurs.

[baner] 12/1/2011 10:44

what an excellent management team/board this company has! pittards was bombed out 5 years ago, suffering from "anything you could suffer from" as a company. today it is profitable, growing, dynamic, innovative, market leading etc etc - "anything you like to benefit from"! well done to all of them and also to Gillenhammer who helped saving them from going under by putting up the new money in 2006!time for a re-rating into a much higher pe-ratio?!

[envirovision] 12/1/2011 09:04

but just some thoughts before that. As in my post #1 i eps H1 was 0.21.

Well we now know H2 beats that and in addition theres net +VEE book adjustments so we could be looking at anything between 0.45-0.5p for YE2010.

Going forward into 2011, I see no reason for the current sales not to continue growth. In addition there should be reasonable cost/efficiency savings creeping into the books now Ethiopia is in ownership. Lastly revenues from defence contract will be included.

I would thus have to guess 2011 eps could be as high as 0.8p at this stage and if im anywhere near correct we are currently on a forward PE ratio of 4.

[envirovision] 12/1/2011 08:15

a new high, cracking looking forward to studying March results to see if i have underestimated the potential here.

[envirovision] 12/1/2011 07:32

Trading update is better than the first half in addition net book adjustments for Ethiopia will be positive.

Excellent, everything is on track, as I posted back in November, this confirms sustained growth going forward. Really good news.

[envirovision] 11/1/2011 11:23

big volume today.

[baner] 26/11/2010 10:35

#envirovision

many thanks again!! looks exciting.

[envirovision] 26/11/2010 10:33

Well given theres seems sustained emerging growth, a forward PE of 10 should not be to demanding imo, in my view that will put the share price at 5p.

High end fashion/consumer goods is booming and growing exponetialy in the east whilst general fashion has done ok in the west with restocking this year. So yes it should to answer your question, although we may need a heads up from the management in the FY for some guidance on this.

Mean time director buy speaks volumes though.

[baner] 26/11/2010 10:18

# envirovision

many thanks for your forecasting/valuation exercise - really helpful! what PER should Pittards trade at in your view? there is an underlying link to fashion/consumergoods - should that come through in the Pittards PER?

[envirovision] 25/11/2010 15:05

I would imagine to get 3.3 Mill in one lot he had to take them off of someone direct, prob off market transaction, however dont quote me on it.

[sailing john] 25/11/2010 12:00

I can't understand how he got them at 2.25p given the quoted price. Presumably someone was keen to offload and he took them at a bargain price.
SJ

[envirovision] 25/11/2010 09:12

CEO Buys, who can blame him. The seven figure MOD contract should add a nice slug to the turnover for the next 4 years.

Now then, PTD did a profit of 1.6M for 12/09 on an EPS of 0.27.

The broker forecast EPS for 12/10 is 1.7M for eps 0.30.

However slight problem, H1 came in at 0.928M for eps of 0.21.

Given the continued restocking, increased savings from Ethiopia and focus on higher end product. I think its safe to say the broker forecast is some what lacking and an EPS of 0.4 now seems more likely.

Moreover the new 4 year contract should see that rising to a conservative eps of 0.5 for 2011 with the likely hood of a dividend.

On a forward PE under 6 this is currently way to cheap.

I can only guess at what other fortunes await PTD in the future, however the fact the CEO increased his stake yesterday by 3.3 million shares taking his stake to 2.6% direct and 2% indirect may answer this.

Clearly the risk here is very much to the upside and with that I increase my stake again.

[ben gunn] 09/9/2008 19:29

baner

ADVFN have them on a P:E ratio of less than 1 as it is!

[baner] 01/9/2008 09:42

the $ appreciation against the £ has VERY positive impact on Pittards going forward. if they broke even with $ at almost 2.00, the "run rate" with the $ at 1.80 is likely to be a profit of at least £1.5m ! with no tax to pay the EPS would then be c. 0.7p and the shares trade at a PER of 3. "not expensive".