Pittards plc, the specialist producer of technically advanced leather and luxury goods for retailers, manufacturers and distributors today announces its results for the year ended 31 December 2018.
Year ended 31 December 2018:
- Revenue £28.5m (2017: £30.3m)
- Profit before tax £0.4m (2017: £0.4m)
- EBITDA £1.8m (2017: £1.6m)
- Net assets £18.5m (2017: £19.8m)
- Net debt £7.7m (2017: £8.0m)
- New foothold in automotive and airline markets
- Progression of footwear manufacturing in Ethiopia.
Stephen Yapp, Chairman commented: “Good progress has already been made in implementing the Group’s stated objectives. Whilst the Group must be mindful of the unpredictable global economic situation, in several respects the Group has entered 2019 well positioned for growth with clear priorities, a stable financial base with available banking facility headroom of £5.5m and a positive outlook about our near-term opportunities.”