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Tasty swings to minor FY pretax loss

By BFN News | 09:14 AM | Tuesday 28 March, 2017


Tasty said trading since year's end had proved challenging and warned it expected headline operating profit for 2017 would be below that achieved in 2016. The warning came as it posted a FY headline operating profit before pre-opening costs and non-trading costs up 21% to £4.8m. Revenue had improved to £45.8m, from £35.8m. "Post year end trade has been below expectations and the Directors believe that the trading environment for the coming 12 months will remain challenging," the company said. "As a result, the Group has revised down the planned number of openings for the current year from 15 to 7 and expects that headline operating profit will be below that achieved in 2016," it added. Tasty was undertaking a full review of the estate and operational structure and was also implementing a number of strategies to improve performance. Directors believed the group's core 'Wildwood' brand remained attractive to customers and that the group was taking positive action to address the expected financial performance and ensure growth in the future. At 9:14am: (LON:TAST) Tasty PLC share price was -30p at 84p Story provided by StockMarketWire.com

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