LONDON (Alliance News) - Leather and luxury goods maker Pittards PLC said Tuesday its interim profit and revenue grew modestly amid "satisfactory" trading as it cautioned of further potential drags from an uncertain global market.
For the six months ended June, pretax profit widened narrowly to GBP96,000 from GBP85,000 the year prior as revenue rose to GBP14.5 million from GBP14.2 million the year before.
Pittards does not pay a dividend.
"The first six months of 2018 has seen satisfactory trading alongside continued investment to strengthen our operational capability and scalability," Chairman Stephen Yapp said.
"As a large proportion of our production is exported, the introduction of tariff barriers globally is likely to create uncertainty which may have an effect on our core business in the second half," Yapp continued.
"However, against this backdrop our strategic priorities remain enhancing our offering to existing customers whilst developing new customers in the interiors and performance footwear markets", Yapp added.
"Good progress has been made in these areas allowing us to look ahead with confidence."
Shares in Pittards were 7.0% lower at 78.10 pence on Tuesday.
