Pittards' H1 pretax profit came in at £0.3m, from £0.6m. Net assets stood at £24.8m, from £23.8m. Revenue fell to £13.4m, from £15.6m. "Pittards has traded profitably in a challenging first half in which we saw a continuation of the depressed demand for leather in similar market conditions to those at the end of 2015," said chair Stephen Yapp. "We have made progress in identifying the Company's medium-term priorities and associated investment requirements, supported by an adequate cash position and solid balance sheet. "The second half continues to benefit from a favorable currency impact and the Board remains confident that the Company can deliver full year results in line with our expectations and the actions identified will help to build a platform for future growth."
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