Tasty (TAST)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

 0.95p
   
  • Change Today:
      0.000p
  • 52 Week High: 2.05
  • 52 Week Low: 0.95
  • Currency: UK Pounds
  • Shares Issued: 197.69m
  • Volume: 0
  • Market Cap: £1.88m
  • RiskGrade: 536
  • Beta: 0.65

Rising bills, cost-of-living crisis hit Tasty's bottom line

By Josh White

Date: Wednesday 27 Sep 2023

LONDON (ShareCast) - (Sharecast News) - Casual dining operator Tasty reported minor first-half revenue growth on Wednesday, with a 0.9% increase year-on-year to £21.7m.
However, the AIM-traded company's adjusted EBITDA declined in the 26 weeks ended 25 June, to £1.1m from £2.7m a year earlier.

Tasty's impairment charge was a significant concern, which considerably increased from £1.6m to £4m.

Consequently, the company reported a loss of £6.2m after tax, nearly doubling the loss of £2.7m from the first six months of 2022.

Tasty's liquidity position also saw a downward shift, with a reported cash balance of £2.8m, a significant decrease from £8m year-on-year.

Despite those challenges, the firm demonstrated resilience in its operations, with 52 of its 54 restaurants remaining open throughout the period.

In a positive light, the company reported a 1.4% increase in like-for-like sales compared to 2022.

Additionally, despite facing operational challenges, Tasty said it had seen an improvement in staff retention.

However, the broader economic landscape remained challenging, with Tasty expecting the ongoing cost of living crisis and interest rate hikes to impact revenue negatively in the second half.

Moreover, the company said it was continuing to grapple with inflationary pressures on various fronts, including labour, food, and utilities, adversely affecting its profitability.

"In these uncertain times, we continue to remain cautious in our approach," said chairman Keith Lassman.

"Retention of staff and cost control is a key priority, and the board remains cautiously confident of managing current challenges."

At 1034 BST, shares in Tasty were down 24.68% at 1.77p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tasty Market Data

Currency UK Pounds
Share Price 0.95p
Change Today 0.000p
% Change 0.00 %
52 Week High 2.05
52 Week Low 0.95
Volume 0
Shares Issued 197.69m
Market Cap £1.88m
Beta 0.65
RiskGrade 536

Tasty Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.88% above the market average6.88% above the market average6.88% above the market average6.88% above the market average6.88% above the market average
21.57% above the sector average21.57% above the sector average21.57% above the sector average21.57% above the sector average21.57% above the sector average
Price Trend
76.62% below the market average76.62% below the market average76.62% below the market average76.62% below the market average76.62% below the market average
88.68% below the sector average88.68% below the sector average88.68% below the sector average88.68% below the sector average88.68% below the sector average
Income Not Available
Growth
19.12% below the market average19.12% below the market average19.12% below the market average19.12% below the market average19.12% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average

Tasty Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Tasty Key Personnel

CEO Daniel Jonathan Plant

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