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<title>Pittards Discussion</title>
<description>Pittards Discussion Board</description>
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion</link>

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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.9448299</guid>
<title>Re: Results.</title>
<description><![CDATA[ Yes, I would agree that these results are generally good with no significant surprises and the company offers good value. I also like the fact that Hargreaves Hale is an investor as they have a high level of expertise on AIM companies and microcap companies in general. One thing that could transform its business would be if Pittards could exploit its expertise and heritage by directly tapping into the Asian demand for luxury fashionable leather goods in the way that Mulberry has done, I'm sure the company must be investigating this. There is always a worry when a company has significant operations and assets in Africa as you can never be sure what tax the Ethiopian government may decide to impose on foreign companies, but having such a low cost production base must be a net positive and the company looks set for a continued gradual recovery. By pharmaspecialist ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=9448299&amp;action=detail</link>
<pubDate>Mon, 19 Mar 2012 09:44:00 GMT</pubDate>
<dc:creator>pharmaspecialist</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.9447998</guid>
<title>Results.</title>
<description><![CDATA[ Generally good;cashflow &amp; profits should improve in the next few months as stocks are adjusted following export tariff and prices stabalise.<br>
<br>
Good value even after modest price increase recently.Should start paying dividend at end of current year once technical changes to balance sheet are made to remove revenue reserve deficit from historic losses. By TX2 ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=9447998&amp;action=detail</link>
<pubDate>Mon, 19 Mar 2012 08:47:00 GMT</pubDate>
<dc:creator>TX2</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.9183252</guid>
<title>Re: Strange!!</title>
<description><![CDATA[ With about 87% of the shares held by Peter Gyllenhammer(aka Browallia);Clients/Funds of Hargreave Hale Stockbrokers,the former pension fund and Directors collectively there are not that many shares around most currently available are from selling by a company connected to Stephen Boyd which appears to need the money for reasons unconnected to Pittards.<br>
<br>
Presently Pittards seems to be doing quite well;it seems to have the brand name, product,expertise and a low cost leather processing plant and availability of supply.Finances are continuing to improve with reinvested profits;the pension problems are gone and it has valuble tax losses that can be offset against profits.<br>
<br>
It needs to sort out its balance sheet on a technical basis to remove the negative revenue reserves,I assume by writing down share premium account and adjusting the par value of the shares to enable it to pay dividends if it does this as indicated it intends to do;hopefully on a PE ratio of about 4 it should look an attractive investment.<br>
<br>
I am gradually adding to my holding. By TX2 ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=9183252&amp;action=detail</link>
<pubDate>Thu, 19 Jan 2012 13:01:00 GMT</pubDate>
<dc:creator>TX2</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.9174151</guid>
<title>Re: Strange!!</title>
<description><![CDATA[ TX2, I suppose this Company remains off the radars of institutional investors. Management have stabilised PTD well over the last couple of years and should business continue to pick up I am sure it will gain more attention. When? well that is the question. By foglight ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=9174151&amp;action=detail</link>
<pubDate>Tue, 17 Jan 2012 17:15:00 GMT</pubDate>
<dc:creator>foglight</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.9173249</guid>
<title>Strange!!</title>
<description><![CDATA[ I thought an RNS for the pre Christmas sale by CPL had already being released.Todays sales are surely another sale (by CPL?).<br>
<br>
I thought the trading update was quite decent and at 3.25p buying price the shares are good value. By TX2 ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=9173249&amp;action=detail</link>
<pubDate>Tue, 17 Jan 2012 15:19:00 GMT</pubDate>
<dc:creator>TX2</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.8977757</guid>
<title>granny's share certificates</title>
<description><![CDATA[ dear all. i'm looking for someone who knows the history of the UK textile industry.. i've found a certificate of Wolsey cumulative pref shares, dated 1961 - &amp; wondering if it has any value. Wolsey were taken over by Coutaulds, then bought out by management, then bought by Matalan, then .. etc.. &amp; the brand still exists. <br>
any remote chance of a seat on the board.?. maybe not.<br>
how do these situations work? [i know you can find out for a &pound;25 fee, but might as well ask first]<br>
thanks. By hilda ogden ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=8977757&amp;action=detail</link>
<pubDate>Mon, 21 Nov 2011 21:32:00 GMT</pubDate>
<dc:creator>hilda ogden</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.8752024</guid>
<title>Equity Research Merchant Securities....</title>
<description><![CDATA[ Equity Research Merchant Securities<br>
<A HREF="http://bit.ly/n7TBnn" onclick="return redirectcheck('http://bit.ly/n7TBnn<br>')" target="_new" rel="nofollow">http://bit.ly/n7TBnn<br></A>
<br>
September 15, 2011 -<br>
<br>
Pittards (PTD.L) Personal Goods BUY<br>
Interims &#150; growth continues, strong order book<br>
&amp;#61550; The interims to 30 June 2011 are in line with market expectations, with revenues and <br>
PBT up 22% to &pound;20.3m and &pound;1.1m respectively. A good set of results demonstrating <br>
further progress internationally in spite of severe inflation on raw materials. <br>
&amp;#61550; Exports now represent 94% of revenues.<br>
&amp;#61550; Net debt stood at &pound;4.5m (FY10: &pound;3.5m).<br>
&amp;#61550; In our view, the group is well positioned to enhance revenues given the strong order <br>
book, offshoring presence to enable manufacturing at a lower cost base and a solid <br>
client base. <br>
&amp;#61550; The stock trades on a sensible 2011 PER of 8.5x falling to just 6.8x in 2012, which we <br>
believe provides scope for upside.<br>
Price 3.38p<br>
Target price n/a<br>
Market cap &pound;14.89 By SpikeyDT ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=8752024&amp;action=detail</link>
<pubDate>Thu, 15 Sep 2011 18:23:00 GMT</pubDate>
<dc:creator>SpikeyDT</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.8247397</guid>
<title>Buying but not moving UP</title>
<description><![CDATA[ Nice 198K buy at full price, wonder what keeps the price not moving higher, unless the MMs know that they can replace the book with sales from the large shareholders that at one time after the good results were willing sellers, claiming the market was short of stock. By BuySel ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=8247397&amp;action=detail</link>
<pubDate>Fri, 13 May 2011 09:25:00 GMT</pubDate>
<dc:creator>BuySel</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.7994079</guid>
<title>Re: Results</title>
<description><![CDATA[ I am a little surprised the sp did not rise further given these results. However, investors and some pundits have been panicking this week over the terrible events in Japan. Good to see the debt level reduced and clearly there is a strong recovery going on at Pittards. This could reward very nicely over the next couple of years. By foglight ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=7994079&amp;action=detail</link>
<pubDate>Sat, 19 Mar 2011 09:26:00 GMT</pubDate>
<dc:creator>foglight</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.7980265</guid>
<title>Results</title>
<description><![CDATA[ Very good reults today, and nice to see the sp ticking up in response. It looks like the decision to invest in Ethiopia is really starting to pay off. It is a shame that the current balance sheet limits the ability to pay dividends and I look forward to seeing what they come up with to correct this. They are being forced to hoard cash which could be distributed. At least they have succesfully reduced the level of debt and gearing. By mptopham ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=7980265&amp;action=detail</link>
<pubDate>Thu, 17 Mar 2011 09:43:00 GMT</pubDate>
<dc:creator>mptopham</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.7595616</guid>
<title>Re: Trading update</title>
<description><![CDATA[ <A HREF="http://www.pittardsleather.com/" onclick="return redirectcheck('startwww://www.pittardsleather.com/')" target="_new" rel="nofollow">www.pittardsleather.com/</A> By foglight ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=7595616&amp;action=detail</link>
<pubDate>Wed, 12 Jan 2011 19:02:00 GMT</pubDate>
<dc:creator>foglight</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.7595600</guid>
<title>Re: Trading update</title>
<description><![CDATA[ Yes, agree mptopham, there are tentative signs of life in the sp and a company well off investors' radars. Bought into these recently at 3p although, just a toe in the water. The new management have bought in heavily and the market in the shares is fairly tight, so any good news will probably have a more marked effect. Pittards are well known producers of high quality leather and a recent development is the supply of specialist leather for the manufacture of a new type of military glove. A glance at the Company's website makes interesting reading.( sp3.25p) By foglight ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=7595600&amp;action=detail</link>
<pubDate>Wed, 12 Jan 2011 18:59:00 GMT</pubDate>
<dc:creator>foglight</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.7590904</guid>
<title>Trading update</title>
<description><![CDATA[ An excellent trading update from what I believe is an undervalued company. I look forward to the full year results in March. By mptopham ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=7590904&amp;action=detail</link>
<pubDate>Wed, 12 Jan 2011 10:45:00 GMT</pubDate>
<dc:creator>mptopham</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.5650962</guid>
<title>Ethiopian Deal</title>
<description><![CDATA[ Looking at the assets and p&amp;l, and the backing by directors purchases, this looks like a good deal for the long term<br>
<br>
Anyone any ideas of the effect on the share price of the  placing at 1.5p<br>
<br>
P By peemalc ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=5650962&amp;action=detail</link>
<pubDate>Mon, 30 Nov 2009 17:46:00 GMT</pubDate>
<dc:creator>peemalc</dc:creator>
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<guid isPermaLink="false">tag:iii.co.uk,2003:tst.4866230</guid>
<title>?</title>
<description><![CDATA[ Dont give up on this one you may be in for some good news.  <img src="/sites/all/themes/iii2010/iiicentre/discussions/emoticons/winking.gif"> <br>
<br>
<br>
I dont have any of these but thinking of taking some on shortly. By ZYRON ]]></description> 
<link>http://www.iii.co.uk/investment/detail?code=cotn:PTD.L&amp;display=discussion&amp;id=4866230&amp;action=detail</link>
<pubDate>Thu, 21 May 2009 13:46:00 GMT</pubDate>
<dc:creator>ZYRON</dc:creator>
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