Revenues at the Yeovil-based leather goods manufacturer have dropped, while profits have remained steady.
Founded in 1826, Pittards manufactures a range of leather goods for both consumer and aerospace markets.
For the year to 31 December 2018, revenue was £28.5m, down from £30.3m in the previous year.
Profit before tax was steady at £400,000, with the company investing in manufacturing capability at its site in Ethiopia.
Chairman Stephen Yapp said: "Good progress has already been made in implementing the group's stated objectives.
"Whilst the group must be mindful of the unpredictable global economic situation, in several respects the group has entered 2019 well-positioned for growth with clear priorities, a stable financial base with available banking facility headroom of £5.5m and a positive outlook about our near-term opportunities."