Tasty pairs back expansion plans due to weaker than expected results

Casual-dining company Tasty, behind the Wildwood and Dim T brands, has issued a relatively downbeat set of results for the 53 week period ended 1 January 2017, and has therefore decided to scale back on expansion plans this year.

During the period, the group, which operates 63 sites, continued to expand, increasing revenue by 28% year-on-year to just under £46m. This growth came from the opening of 13 Wildwood restaurants during the year, and operating profit increased to £4.8m.

However, the group reported a pre-tax loss for the period of £88k after taking exceptional costs of £3.6m. For the last comparable period, the company reported a pre-tax profit of £3.1m.