Disposals and poorly performing restaurant led to a £2.19m write-off in Tasty’s 2007 results.
The restaurant operator sold a branch in Nottingham and reduced the book value of the Tunbridge Wells site because of its below par performance.
Revenues more than doubled from £2.68m to £5.44m in 2007. Excluding the write-down, the underlying loss increased from £134,000 to £787,000.
Tasty was established in 1993 and operates restaurants serving dim sum and other oriental food including Chinese, Thai and Vietnamese. There are 10 restaurants trading at the moment with two more planned by the end of 2008.
The management has been boosted by the appointment of former Ask Central executives. Sam Kaye is an executive director of Tasty and he was also a founder of ASK Central.
Net cash was £3.38m at the end of 2007. Tasty has raised nearly £10m before expenses in the two years it has been quoted on Aim. This cash was raised at share prices between 52p and 110p.
The shares have fallen back to 61.5p in the past six months. Tasty is valued at £19.2m.
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