Pittards PLC
11 April 2001
PITTARDS PLC
In the preliminary announcement of its results for the year ended 31 December
2000, released on 6 March 2001, Pittards warned that the recent outbreak of
foot and mouth disease was affecting its supplies of raw material and as a
result the trading outlook would remain unclear until the outbreak was
contained.
In the intervening period, there have been many more reported cases and the
prospects of an early return of raw material supplies to normality seem
regrettably low. While demand for the Company's products remains buoyant and
turnover to date is ahead of budget, the Company is experiencing a significant
increase in costs as a result of the reduced availability of UK hides and
sheepskins and of importing raw materials from non-UK sources. As a result
the Company expects a substantial reduction in Group profit before tax for the
year as a whole compared to last year.
For further information, please contact:
John Pittard - Group Managing Director
John Buckley - Group Financial Director
Pittards plc Tel: 01935 474321
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