Restaurants operator Tasty has a strong balance sheet and it will need it.
Net cash was £2.9m at the end of 2019, following site disposals. A London site was sold for £2m at the beginning of January. No more disposals are planned at the moment.
In 2019, revenues were down 6% to £44.6m and the underlying loss increased from £619,000 to £716,000. NAV was £13.3m. At 1.85p, the company is valued at £2.61m.
There was an encouraging start to 2020 trading, but this is likely to have changed in the past fortnight and Tasty will have to endure the next few weeks when it will not be able to trade from its Wildwood and Dim t sites.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.