During the first half of the year, Pittards, a renowned leather supplier and accessories brand, faced a tough period with a 16% decrease in revenue. However, despite this setback, the company managed to maintain steady profits on an EBITDA basis and even saw a doubling in pre-tax profits. This positive outcome was mainly attributed to an improvement in the gross margin, showcasing the company’s commitment to enhancing its financial performance.
Chairman Stephen Yapp emphasized Pittards’ dedication to boosting efficiencies and expanding manufacturing capabilities, which has resulted in a more diverse range of products. As the company looks ahead to the second half of the year, it is well-positioned with a robust order book, reduced costs, and improved margins, setting the stage for a more lucrative period in the upcoming months.
Despite the challenging economic environment, Pittards remains upbeat about the prospects in its core and targeted markets. The company has made significant progress in diversifying its business by venturing into the shoe manufacturing sector through collaborations with reputable brands like Soul of Africa and Vivo Barefoot. This foray into footwear has not only broadened Pittards’ portfolio but has also aligned with its strategic goals.
Moving forward, Pittards aims to capitalize on its core strengths while exploring new avenues for growth. By investing in additional manufacturing capacity and leveraging its expertise in glove production, the company is poised for further success in the global market. With a commitment to delivering top-notch products and services, Pittards is primed to overcome obstacles and drive expansion in the future.
For more information on Pittards and its latest updates, visit their official website here.
To explore the range of products offered by Pittards, check out their online catalog here.
