May 28, 2023

by Ian Walker

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Tasty plc on Monday reported a slightly narrower pretax loss for the first half of the year on revenue, which nearly doubled, but warned that the pressing cost of living was beginning to impact second half revenue and employees. The challenges of scarcity remain.

The UK restaurant company posted a pre-tax loss of £2.66 million ($3 million) for the half year ended June 26, while losing GBP11.6 million to GBP21.5 million on revenue of GBP2.74 million .

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Adjusted earnings before interest, taxes, depreciation and amortization — one of the company’s preferred metrics that separate extraordinary and other one-time items — were GBP2.7 million compared to GBP800,000.

Testee said it booked an impairment charge of GBP1.6 million over the period against the valuation of its assets.

“Despite these uncertainties, the Board remains confident of managing the current challenges and will carefully consider future expansion opportunities for Group growth,” said Chairman Keith Lassman.

Write to Ian Walker at [email protected]

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