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Tasty books loss after site closures send sales down 6%

By BFN News | 07:56 AM | Tuesday 17 March, 2020

Restaurant group Tasty booked a full-year loss after site closures crimped its sales. Pre-tax losses for the year through December amounted to £0.27m, compared to losses of £11.8m on-year. Revenue fell 6% to £44.6m after the company sold three sites and sublet another. It had sold one addition site post year end. Tasty said it continued to review its estate, but that no further disposals in 2020 were currently planned. '2019 continued to be a challenging year for the casual dining and retail markets and the group's priority was to achieve financial stability and stem the sales decline,' chairman Keith Lassman said. 'This included; optimising the current estate, turning around underperforming sites, improving the customer experience and investing in our people.' 'Over the next year we plan to refurbish a few sites and refresh some of the older restaurants in the estate.' 'Whilst we have measures in place to reduce the anticipated impact of Brexit or COVID-19 issues, it is impossible to mitigate all potential risks but we are constantly monitoring the situation.' 'Despite all the challenges we faced during 2019 we were cash generative and achieved our expected results.' Story provided by

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