Issuing its second profit warning in three months, Pittards, the U.K.-based leather producer, said it will make a reasonable profit for this year, but it will be materially below forecasts, due to the slowdown in China and Russia. These two factors are apparently offsetting the impact on margins from lower leather prices and the appreciation of the U.S. dollar, which applies to more than 70 percent of the quantities invoiced by the company.