Pittards – 1.675p

5 March 2013 – trading statement

Having previously announced to the market that trading in the year ended 31 December 2013 was in line with expectations, there has been a surprise announcement that profit will now be below the level anticipated.  This is primarily a result of higher cost of sales due to raw material prices.  Despite this unwelcome confusion, the shares trade at a low level and there is potential for the shares to multiply in value over the longer term.  We rate the shares as a BUY ahead of results due to be released later in the month.

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