Pittards says 2010 results will be positive
14/01/2011
“Trading in all areas of the business has been stronger than market expectations for the year as a whole,” the company said. “Therefore we anticipate that the second-half result will be slightly stronger than the first half, for which we announced a pre-tax profit of £0.9 million. Our order book remains strong as we enter 2011 and we continue to make progress with our strategic developments.”
There are some non-trading items that are still being reviewed by the company and its auditors. These include a property revaluation of the group’s Ethiopian factory, winner of the inaugural Tannery of the Year competition. The Ethiopian currency, the birr, has dropped 20% in value since September 2010, Pittards said.
The company expects to announce its preliminary results in March 2011.
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