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Pittards PLC - Yeovil, Somerset-based leather and leather goods producer - Buys London-based luxury fashion brand Hill & Friends Ltd for an undisclosed amount. The acquisition, which has been financed from the company's existing cash resources, enables Pittards to add another fashion brand to its growing portfolio whilst also offering the potential for international growth.
Read morePittards PLC - Yeovil, Somerset-based leather and leather goods producer - Revenue for 2021 rises to GBP19.7 million from GBP15.2 million in 2020, and firm swings to pretax profit of GBP460,000 from loss of GBP2.3 million. Gross margin improves to 28% from 21%. Hails "resilience" in year and notes recovery in core business. Says performance in second half was dented by supply chain challenges and inflationary pressures. On start to new year, says it entered 2022 with a "much stronger" order book than the year before, but cautions: "It remains too early to judge how strong the recovery will be, given the heightened uncertainty caused by the conflict in Ukraine, inflationary pressures, and continued supply chain challenges."
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(Sharecast News) - Leather and luxury goods supplier Pittards updated the market on 2020 on Wednesday, reporting that its unaudited results showed revenue of around £15.2m, with about £8.6m of that coming in the second half, up approximately 30% on the first half.
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Read moreDIRECTOR DEALINGS: Pittards Senior Team Buy GBP75,000 Worth
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Read more(Sharecast News) - Leather products manufacturer Pittards said on Monday that it had successfully secured and drawn down a coronavirus business interruption loan of £1m through Lloyds Bank.
Read moreNorth Industrial Services Appoints Stephen Yapp To Board
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