Tasty plc

TAST

GB00B17MN067

Restaurants & Bars

Market Closed - London S.E. Other stock markets 11:35:06 2024-06-28 EDT			5-day change	1st Jan Change
1.2 ^GBX	-14.29%		-27.27%	0.00%

06-28	Tasty annual loss widens but on path for potential growth	AN
06-28	Tasty plc Reports Earnings Results for the Full Year Ended December 31, 2023	CI

Tasty annual loss widens but on path for potential growth

June 28, 2024 at 07:10 am

Tasty PLC - London-based casual dining restaurant operator - Amid sharply higher operating costs, reports pretax loss widens sharply to GBP14.5 million in 2023 from GBP6.4 million in 2022. However, revenue climbs 6.5% to GBP46.9 million from GBP44.0 million. Operating expenses balloon to GBP14.8 million from GBP4.4 million. Cost of sales increase 1.4% to GBP44.8 million from GBP44.1 million. Tasty notes higher labour costs, citing the increase in the UK national living wage in April "and general inflationary wage pressures". Adjusted earnings before interest, tax, depreciation and amortisation improve to GBP4.4 million from GBP2.6 million. Looking ahead, Chair Keith Lassman says: "The board believes that the restructuring plan will allow the group to stabilise towards the end of the year, with a significant improvement in Ebitda performance expected over the next two years through site rationalisation and other tangible cost savings." Tasty says it is "now on a secure footing for potential future growth".

Current stock price: 1.12 pence each, down 20% on Friday noon in London

12-month change: down 54%

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Latest news about Tasty plc

Tasty annual loss widens but on path for potential growth	06-28	AN
Tasty plc Reports Earnings Results for the Full Year Ended December 31, 2023	06-28	CI
Tasty restructuring backed; Alien Metals raises funds	06-04	AN
Tasty plc’s Restructuring Plan Secures UK Court’s Approval	06-04	MT
Adnams toasts first quarter sales; t42 wins deal	05-13	AN
Stocks struggle in nervy trade before US data	04-09	AN
Tasty to close 22 sites in restructuring amid "challenging times"	04-09	AN
Tasty Secures New Loan to Fund Restructuring	04-09	MT
Tasty Unveils Restructuring Plan including Closure of 20 Sites	04-09	MT
Tasty plc Provides Group Earnings Guidance for the 53 Week Period Ended 31 December 2023 and for the Fiscal Year 2025	04-09	CI
Stocks fall on higher for longer rate worries	23-09-27	AN
Tasty shares plunge as interim loss widens on rising costs	23-09-27	AN
AIM WINNERS & LOSERS: Tasty's interim loss widens, shares plunge 31%	23-09-27	AN
Earnings Flash (TAST.L) TASTY Posts H1 Revenue GBP21.7M	23-09-27	MT
Earnings Flash (TAST.L) TASTY Posts H1 Loss GBX-3.82	23-09-27	MT
Tasty plc Reports Earnings Results for the Half Year Ended June 25, 2023	23-09-27	CI
FTSE 100 Ends Thursday Up 0.74%, Hitting Highest Level in Two Weeks	23-03-30	DJ
European Miners Look Better as China Recovery Picks Up	23-03-30	DJ
EARNINGS UPDATES: Microlise and Gattaca swing to annual profit	23-03-30	AN
Short-Dated Gilt Yields Could Fall After BOE Rate Increase in May	23-03-30	DJ
Shares and pound up as market confidence builds	23-03-30	AN
BOE Rate Rises Hurt UK Housing Market	23-03-30	DJ
FTSE 100 Rises as Traders Welcome Absence of Fresh Banking Shocks	23-03-30	DJ
FTSE 100 to Extend Gains as Bank Fears Continue to Wane	23-03-30	DJ
Earnings Flash (TAST.L) TASTY Posts FY22 Loss GBX-4.03	23-03-30	MT

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Company Profile

Tasty plc is a United Kingdom-based company, which is engaged in the operation of restaurants. The Company operates two concepts in the casual dining market: Wildwood and dim t. The Wildwood has a number of leisure, retail and tourist locations. Its pan-Asian restaurant trades from six sites, serving a wide range of dishes, including dim sum, noodles, soup and curry. Its menu also includes ramen and soup, salads, noodles and rice, specialties, plant-based specialties, and sides. The Company comprises 54 restaurants, which comprises six dim t and 48 Wildwood restaurants. The Company has its restaurants in Charlotte Street, Hampstead, Loughton, Victoria, Whiteley and Winchester. Its dishes are available for takeaway. The Companyâs wholly owned subsidiary is Took Us a Long Time Limited (TUALT).

Sector

Restaurants & Bars

Calendar

2024-07-22 - Annual General Meeting

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