Wildwood and Dim T owner makes £2.3m loss
Tasty, the operator of the Wildwood and Dim T restaurant brands, has reported a pre-tax loss of £2.3m due to a £3.58m impairment charge against five sites, for the six months to 3 July 2016.
However, when adjusted, pre-tax profit for the period increased by £1.6m. Revenue was up 28% to £21.8m and operating profit, before pre-opening costs, share based payments and interest, rose by 14% to £1.9m.
Four new sites opened during the first six months of the year and a further three sites have launched since the end of the accounting period end, bringing the group's current portfolio up to 55, made up of seven Dim T and 48 Wildwood and Wildwood Kitchens.
Tasty is currently developing three sites and expects to start construction on at least a further four sites later in the year. The board announced that it intends to open 15 restaurants in 2017.
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