News blog

Tasty

  • BY: Andrew Hore |
  • POSTED: 20/03/2019 |

Restaurants operator Tasty reported lower 2018 revenues due to a combination of site closures and like-for-like declines.

The share price slumped 1.75p to 6.75p, which is a new low.

Three restaurants were sold and another closed last year. There were 58 Wildwood and Dim t restaurants at the end of 2018. Four more sites are set to be exited this year. Three of the four sites have generated £550,000 in additional cash since the year end. There are no plans to open new sites and more could be sold.

In 2018, revenues fell from £50.3m to £47.3m and there was an underlying loss of £619,000, compared with a £1m profit. This excludes a £11.2m provision and write-down, which followed a £10.5m write-down in the previous year. This means that the NAV more than halved to £10.6m.

There was a cash inflow from operating activities and cash generate by disposals. Net debt declined from £5.16m to £2.1m. There are provisions against onerous leases of £3.35m and this will flow out in cash over the next three years. The directors have agreed to inject £500,000 into the company by the end of June.

Trading is not expected to improve but the cost base has been reduced. 

© 2019 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News Blog
All micro news

Northern Bear

Roofing and building services provider Northern Bear directors say they will not accept the 72p a share tender offer from Cedarvale Holdings. 

Continue reading... | 21/10/2019

LiDCO Group

Patient monitoring devices supplier LiDCO increased its product revenues by 10% in the year to July 2019. 

Continue reading... | 21/10/2019

Quoted Micro 14 October 2019

Continue reading... | 14/10/2019

Hague and London Oil

Former Aim company Hague and London Oil reported a decline in revenues in the first half of 2019, but it moved from loss to profit, but this was due to a gain on derivative instruments. 

Continue reading... | 13/10/2019

All micro news

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds