News Column

Tasty Looks Out For New Sites As Profit Rises In First Half

September 4, 2014

Anthony Tshibangu

LONDON (Alliance News) - Restaurant operator Tasty PLC Thursday said it will continue to look at new sites to acquire as it reported an increase in profit and revenue for the first half.

The company posted pretax profit of GBP773,000 for the six months to June 29, up from GBP787,000 a year earlier, as revenue rose 26% to GBP13.8 million from GBP10.1 million.

Operating profit, before pre-opening costs, share based payments and interest, rose 16% to GBP1.2 million from GBP1.0 million a year earlier.

Tasty said it continued to expand its operations through new openings. It opened four sites during the year with a further three sites opened post the period-end. The group is currently undertaking construction on two sites, which are expected to open later this year.

The new sites will bring the total number of restaurants operated by the group to 37.

"The group continues to look at new sites and has the resources for further acquisitions," the company said.

The stock was untraded Thursday morning. It was last quoted at 104 pence.

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Source: Alliance News

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