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Pittards posts annual loss; broke even in second half
StockMarketWire.com
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Specialist leather goods producer Pittards posted a full-year loss, though it broke even in the second half amid signs of a recovery in demand.
Pre-tax losses for the year through December amounted to £2.3 million, compared to a year-on-year profit of £0.6 million, as sales slumped 32% to £15.2 million.
'We have entered 2021 stronger, with a more diverse and flexible business, ready to take full advantage of opportunities in our markets,' chairman Stephen Yapp said.
'It remains too early to judge how strong the recovery will be, but on balance, we see more reason to be positive that we can make further progress to build on the momentum of the second half of last year, starting the year with stronger demand from customers.'
Story provided by StockMarketWire.com
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