Interim Results

PITTARDS PLC
1 September 1999



Pittards plc produces technically advanced leather for many of the world's
leading brands of gloves, shoes, luxury leathergoods and sports equipment.

                                                            1st September 1999

            Interim Results for the six months ended 30 June 1999             

                                   Summary                                    


                                      Six months ended     Six months ended
                                          30 June 1999         30 June 1998

Turnover                                        £30.1m               £39.2m
Profit (loss) before taxation                    £0.9m              £(0.7)m
Earnings (loss) per share                         3.5p               (3.7)p
Ordinary dividend                                 1.0p                 1.0p
Net assets per share                             97.7p                94.5p
Gearing                                          29.0%                38.0%


* All three divisions traded profitably

* Borrowings have reduced by £2m year on year

* Interim dividend has been maintained

* The increased commitment to innovation and accelerated pace of new product
  development is delivering results

Robert Tomkinson, Chairman of Pittards, commented:

'The Company is making steady progress in spite of the unhelpful conditions in
many of our markets.  Current trading is reasonable and we are optimistic
about prospects for the year as a whole.'


For further information, please contact:

John Pittard - Group Managing Director
John Buckley - Group Financial Director
Pittards plc - Tel: [phone]

Chairman's Interim Statement

The Company continues to make steady progress overall in spite of the
generally unhelpful conditions in many of our markets.  The profit before tax
for the six months ended 30 June 1999 was £0.9M compared to a loss of £0.7M in
the first half of last year, and a profit of £0.8M in the second.  General
world demand for leather in the sport and leisure sectors remained depressed
throughout the period, and sales turnover of £30.1M  was 23% less than at the
interim stage in 1998.  This reduction was in part due to lower underlying raw
material prices, but mainly the result of the temporary reduction in the
requirements of certain customers of the Glove Leather Division of which I
warned shareholders at our AGM in May.  I am pleased to report that the orders
from those customers for the balance of the year are rebuilding steadily.

There was no tax charge in the period due to the availability of  tax losses
brought forward and, after allowing for the preference dividend, the earnings
were £0.7m, equivalent to 3.5 pence per share.  (1998 - 3.7p loss per share). 
Your board has declared an interim ordinary dividend of 1.0p (1998 - 1.0p per
share) which will be paid on 1 November 1999 to shareholders on the register
on 1 October 1999.

The Glove Leather Division achieved year on year growth in all segments of its
business other than golf.  Elsewhere in the sports sector, notably baseball,
volumes were good, as were sales to dress and service glove manufacturers. 
However, the overall volume of sales in the Division was 19% down on the first
half of 1998, and this was entirely attributable to a phase of destocking by
companies supplying golf gloves which began in the latter part of last year. 
Current indications are that this phase is now over, and demand is beginning
to improve.   The full impact of lower sales volume on the Division's profit
margin was mitigated by measures taken to reduce operational gearing, which
include the tight management of costs, and further improvements in production
efficiency. The increased commitment to innovation, and initiatives to
accelerate the process of new product development are already delivering
results, and promises much for the future.

The recovery in profitability in the Shoe and Leathergoods Division during the
second half of 1998 continued into the first half of this year.  Although, the
pace of this recovery has been tempered by the generally poor world demand for
leather,  new product introductions have contributed to an overall improvement
of 13% in sales volume. Better raw material utilisation,  increased
productivity and reduced costs have helped to counter the effects of intense
pressure on margins and the continued strength of sterling.

The Raw Materials Division has traded profitably since the collapse in the
sheepskin market in the Autumn of last year.  The price of sheepskins remained
at low levels for most of  the first half, and this has prompted an increasing
demand from garment leather producers in Southern Europe and Asia.  The
Division's profit for the first six months of the current year was usefully
ahead of that for the same period in 1998.

After a period of substantial investment in both manufacturing divisions in
recent years, capital expenditure has been kept low during the first half of
the year and is planned to remain so in the second.  Bank borrowings at 30
June 1999 were £7.0M (29% of Shareholders funds) compared with £8.9M (38%) at
the same point last year.  Borrowings have increased by  £2M since the
beginning of the year but this is in line with the seasonal working capital
cycle in our business.  The lower level of borrowings in the current year,
coupled with the benefit of lower interest rates resulted in the halving of
interest costs in the period, compared with the first half of last year.

Year 2000 issues and the Group's approach to addressing them were described in
the 1998 Report and Accounts.  Our plan to ensure that all significant risks
are covered well in advance of critical dates with minimum disruption to the
business is being executed in line with the original timescales set.

Current trading is reasonable and we are optimistic about our prospects for
the year as a whole.  However we are conscious of the importance of the
continued prosperity of the US economy to our business and to the global
economy.


CONSOLIDATED PROFIT AND LOSS ACCOUNT (UNAUDITED)
for the six months ended 30 June 1999

 Year ended                                        Six months     Six months 
31 December                                     ended 30 June  ended 30 June
       1998                                              1999           1998
      £'000                             Note            £'000          £'000

     74,320  Turnover                                  30,142         39,216
     ------                                            ------         ------
      1,016  Operating profit (loss)                    1,140           (231)
     ------                                            ------         ------
             Profit (loss) on ordinary 
      1,016  activities before interest                 1,140           (231)

       (931) Net interest payable                        (243)          (488)
     ------                                            ------         ------
             Profit (loss) on ordinary
         85  activities before taxation                   897           (719)

         99  Taxation                                       -             51
     ------                                            ------         ------
             Profit (loss) on ordinary
        184  activities after taxation                    897           (668)
     ------                                            ------         ------
      (0.5p) Earnings (loss) per share         1          3.5p         (3.7p)
     ------                                            ------         ------
             Dividends
        285  Preference                                   143            143
        763  Ordinary                                     218            218
     ------                                            ------         ------
      1,048                                               361            361
     ------                                            ------         ------
       (864) Retained profit (loss)                       536         (1,029)
     ------                                            ------         ------

There were no discontinued activities in 1999 or 1998.  The results relate
entirely to continuing operations.


CONSOLIDATED BALANCE SHEET (UNAUDITED)
as at 30 June 1999

31 December                                           30 June        30 June
       1998                                              1999           1998
      £'000                                             £'000          £'000

     18,869  Fixed assets                              18,262         19,655
     ------                                            ------         ------
             Current assets
     12,229  Stocks                                    11,767         13,665
      7,153  Debtors                                    8,912          9,913
         23  Investments                                   15             32
         57  Cash at bank and in hand                      44             40
     ------                                            ------         ------
     19,462                                            20,738         23,650
     ------                                            ------         ------
             Creditors - Amounts falling
             due within one year
     (3,596) Bank loans and overdrafts                 (7,028)        (5,478)
     (5,930) Trade creditors                           (4,313)        (5,781)
     (3,595) Other creditors                           (3,369)        (4,873)
     ------                                            ------         ------
    (13,121)                                          (14,710)       (16,132)
     ------                                            ------         ------
      6,341  Net current assets                         6,028          7,518
     ------                                            ------         ------
     25,210  Total assets less current liabilities     24,290         27,173

             Creditors - Amounts falling due after
     (1,448) more than one year                             -         (3,492)

          -  Provisions for liabilities and charges         -            (84)
     ------                                            ------         ------
     23,762                                            24,290         23,597
     ------                                            ------         ------
             Capital and Reserves
      8,449  Called up share capital                    8,449          8,449
     15,292  Reserves                                  15,820         15,127
     ------                                            ------         ------
     23,741  Shareholders' funds                       24,269         23,576
         21  Minority interest                             21             21
     ------                                            ------         ------
     23,762                                            24,290         23,597
     ------                                            ------         ------


SUMMARY CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED)
for the six months ended 30 June 1999

 Year ended                                         Six months    Six months
31 December                                      ended 30 June ended 30 June
       1998                                               1999          1998
      £'000                               Notes          £'000         £'000

             Net cash (outflow) inflow
      5,599  from operating activities      2             (911)          741

             Returns on investments and
     (1,240) servicing of finance                         (293)         (626)

       (261) Taxation                                      (91)          (90)
            
             Capital expenditure and
             financial investment
             Purchase of tangible fixed
       (890) assets                                       (159)         (683)
         (9) Purchase of shares for ESOP                    (2)           (9)
      3,113  Sale of tangible fixed assets                  41         2,787
     ------                                             ------        ------
             Net cash (outflow) inflow from
             capital expenditure and
      2,214  financial investment                         (120)        2,095
       (763) Equity dividends paid                        (545)         (545)
     ------                                             ------        ------
      5,549                                             (1,960)        1,575
             Financing
     (1,502) Repayment of term loans                    (4,198)       (1,222)
             Capital element of finance 
       (102) lease repayments                              (29)          (57)
     ------                                             ------        ------
     (1,604) Net cash outflow from financing            (4,227)       (1,279)
     ------                                             ------        ------
      3,945  (Decrease) increase in cash                (6,187)          296
     ------                                             ------        ------

Reconciliation of net cash flow to movement in net debt

      3,945  (Decrease) increase in cash                (6,187)          296
      1,502  Repayment of term loans                     4,198         1,222
             Capital element of finance lease 
        102  repayments                                     29            57
     ------                                             ------        ------
             Movement in net debt resulting from
      5,549  cash flows                                 (1,960)        1,575
          3  Exchange difference                             7             2
     ------                                             ------        ------
      5,552  Movement in net debt                       (1,953)        1,577
    (10,583) Net debt at beginning of period            (5,031)      (10,583)
     ------                                             ------        ------
     (5,031) Net debt at end of period                  (6,984)       (9,006)
     ------                                             ------        ------


CONSOLIDATED STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES (UNAUDITED)
for the six month ended 30 June 1999

 Year ended                                           Six month    Six months
31 December                                       ended 30 June ended 30 June
       1998                                                1999          1998
      £'000                                               £'000         £'000

             Profit (loss) on ordinary activities
        184  after taxation                                 897          (668)

             Exchange difference on retranslation
          3  of net assets of subsidiary undertakings        (8)            3
     ------                                              ------        ------
        187                                                 889          (665)
     ------                                              ------        ------

Notes

1. The earnings per share are based on a profit on ordinary activities after 
   taxation and preference dividends of £754,000 (1998 loss - £811,000) and on
   21,797,638 (1998 - 21,797,638) ordinary shares being the weighted average
   number of shares in issue during the period.

2. Reconciliation of operating profit to net cash flows from operating
   activities:

 Year ended                                          Six months    Six months
31 December                                       ended 30 June ended 30 June
       1998                                                1999          1998
      £'000                                               £'000         £'000

      1,016  Operating profit (loss)                      1,140          (231)
      1,485  Depreciation charges                           766           816
         19  Amortisation of matching shares under RSP       10            10
        (25) (Profit)loss on sale of tangible fixed assets  (41)           13
      2,449  Decrease in stocks                             462         1,013
      2,214  (Increase)/decrease in debtors              (1,771)         (357)
     (1,559) (Decrease)/increase in creditors            (1,477)         (523)
             Net cash (outflow) inflow from operating 
     ------                                              ------        ------
      5,599  activities                                     (911)          741
     ------                                              ------        ------

3. The financial information contained in this interim statement does not
   constitute statutory accounts as defined in section 240 of the Companies
   Act 1985.  The financial information for the full preceding year is based
   on the statutory accounts for the financial year ended 31 December 1998. 
   Those accounts, upon which the auditors issued an unqualified opinion, have
   been delivered to the Registrar of Companies.

4. The interim financial information has been prepared on the basis of
   accounting policies set out in the Group's statutory accounts for the year
   ended 31 December 1998.

5. The report, containing the interim financial information, is to be sent
   direct to shareholders.  Copies of the report are available to the public
   from the registered office of Pittards plc.  The address of the registered
   office is: Pittards plc, Sherborne Road, Yeovil, Somerset, BA21 5BA.


INDEPENDENT REVIEW REPORT TO PITTARDS PLC

Introduction

We have been instructed by the Company to review the financial information set
out above and we have read the other information contained in the interim
report and considered whether it contains any apparent misstatements or
material inconsistencies with the financial information.

Directors' Responsibilities

The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by the directors.  The Listing
Rules of the London Stock Exchange require that the accounting policies and
presentation applied to the interim figures should be consistent with those
applied in preparing the preceding annual accounts except where any changes,
and the reasons for them, are disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin
1999/4 issued by the Auditing Practices Board.  A review consists principally
of making enquiries of group management and applying analytical procedures to
the financial information and underlying financial data and based thereon,
assessing whether the accounting policies and presentation have been
consistently applied unless otherwise disclosed.  A review excludes audit
procedures such as tests of controls and verification of assets, liabilities
and transactions.  It is substantially less in scope than an audit performed
in accordance with Auditing Standards and therefore provides a lower level of
assurance than an audit.  Accordingly we do not express an audit opinion on
the financial information.

Review conclusion

On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 June 1999.

Ernst & Young
Becket House
1 Lambeth Palace Road
London  SE1 7EU

1 September 1999