Pittards expects second-half slowdown - leatherbiz: Leading news site Leatherbiz

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Pittards expects second-half slowdown

09/01/2017
Tanning group Pittards expects its full-year results for 2016 to be lower than previously forecast due to disruption to its manufacturing operations in Ethiopia, as well as a drop in global demand. 

The company revealed that unrest in Ethiopia, which has been under a state of emergency since October 2016, resulted in a loss of production at its East Shewa tannery in the country. It added that the facility has not yet returned to full capacity, which will impact its second-half results. This comes despite some production being undertaken in the UK to try and mitigate the disruption.

Pittards also said that “prolonged depressed demand for leather” has resulted in disappointing sales figures in the final months of 2016. 

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