Tanning group Pittards saw profits edge up in 2010 as revenues soared in line with global economic recovery, but warned that high raw material prices will make maintaining margins a challenge.

Pre-tax profits on continuing operations rose to £3.3 million from £800,000 on revenues that jumped to £36.1 million from £24.6 million. Pittards, which has tannery operations in Ethiopia and a head office in Yeovil, UK, said the surge in revenues “reflects a major recovery in volumes from key customers, partly due to the refilling of the pipelines they had emptied in late 2008/early 2009 during the global recession, and partly in response to improved consumer demand.”

Share this story: