Finished goods are key to growth, says Pittards
UK headquartered leather group Pittards has reported an increasing order book in all parts of its business over recent months and expects sales volumes to steadily improve during the year.
“Skin prices have settled at a slightly better level than in 2013, though hide prices remain firm, therefore we anticipate a stronger second-half result,” said its chairman, Stephen Boyd, at the annual general meeting.
However, he noted that the weak dollar continues to adversely affect the business and will result in a lower first-half profit than last year.
“We remain committed to our strategy to increase our activities offshore and increase the proportion of finished product manufacture as we believe that long term this will reduce our dollar dependency,” he added.
