Tasty plc (GB:TAST) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Tasty plc, a casual dining restaurant operator, has released its interim results, revealing a revenue decline of 12% to £19.1m, alongside a restructuring plan that led to the closure of 14 restaurants and 160 redundancies. Despite tough market conditions, the firm reported a profit before tax of £13.4m for H1 2024, a significant improvement from the £6.2m loss in H1 2023, and an increase in adjusted EBITDA to £1.9m from £1.1m in the previous year. The company remains cautious about the future due to ongoing economic pressures but has secured a £750,000 loan to fund restructuring and provide additional working capital.
For further insights into GB:TAST stock, check out TipRanks’ Stock Analysis page.