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Tasty PLC - London-based casual dining restaurant operator, including the 'dim t' and Wildwood brands - Pretax loss in half year that ended June 26 remains unchanged from a year before at £2.7 million, despite a nearly doubling in revenue to £21.5 million from £11.6 million. Other income drops to £213,000 from £2.1 million.Total operating expenses jump to £2.8 million from £628,000 due to a £1.6 million impairment charge versus none a year before. It operated 51 of its 54 restaurants during the recent six months.
‘Following the difficult period of the pandemic, we started 2022 expecting the year to be less challenging. Sales performance compared to 2019 was strong but has been marred by labour shortages and inflationary pressures impacting the hospitality industry. These cost pressures became more acute towards the end of the first half of 2022,’ explains Chair Keith Lassman.
Tasty adds that inflationary pressures are beginning to hurt revenue in the second half of the year.
Current stock price: 5.00 pence
12-month change: down 15%
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