Pittards trading in line
Leather goods firm Pittards said trading in all areas of the business has been broadly in line with market expectations for the year as a whole.
Leather goods firm Pittards said trading in all areas of the business has been broadly in line with market expectations for the year as a whole.
Its order book has remained strong as it enters 2012 and it continues to make progress with strategic developments.
Pittards also explained that it has quickened the pace of progress on finishing leather at its Ethiopian tannery after the government brought into effect a tariff of 150% on exports of leather at the part processed or 'crust' stage.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Speeding up progress in Ethiopia is expected to benefit to the group in 2012.
"In order to minimise any potential disruption to our customers we had to bring in additional crust supplies to the UK prior to this date which has put some pressure on cash but RBS, the company's bankers, have been very supportive through this transition period which should reverse during the first half of 2012," Pittards explained in a company statement.
The group will announce its preliminary results mid March 2012.
cj
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Tesla seeks approval to supply electricity to UK homes – could it disrupt the energy market?
Tesla has applied for a license to supply UK households with electricity, but taking on the biggest providers could prove challenging
-
Most Brits unaware onshore bonds can help beat inheritance tax – here’s how
A little-known perk of certain types of bonds can let your loved ones off the hook when it comes to inheritance tax – but two-thirds of people have never heard of them